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CBS profits plunge 96%!

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jimmypasta

Post subject: CBS profits plunge 96%!

Posted: Sat Aug 08, 2009 11:45 pm

Joined: Wed Jan 28, 2009 11:46 am
Posts: 26636
Location: NW SUBURBS OF CHICAGO
pizza_Place: any from anywhere

This might mean more layoffs locally. Don't know how much more they can cut.

http://www.deadlinehollywooddaily.com/c ... at-street/

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Nevertheless, CBS shares were up 7.14% in end-of-day trading. Les Moonves continues to preside over a small public company that is way too dependent on advertising, and every media company is feeling that slump. (Blame Sumner Redstone, who unequally divided Viacom and CBS, leaving to the latter pay channel Showtime but no cable which has been weathering the recession better than network.) Television (including the O&O's), network, radio, outdoor displays, were all down in the 2nd-quarter compared to last year. The company said it earned $15.4M, compared to a profit of $408.4M a year ago (that included a gain on the sale of its investment in Sundance Channel). Profit plunged 96%. Yes, 96%! Revenue fell 11% to $3.01B, down from $3.03B, lower than analysts had predicted.

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Drop In

Post subject: Re: CBS profits plunge 96%!

Posted: Sat Aug 08, 2009 11:54 pm

Joined: Fri Aug 04, 2006 1:39 am
Posts: 13303
pizza_Place: Lanny Poffo's Sausage and More

Most media companies should find new leaders right now. The business has changed dramatically.

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Aggravated Sox Fan Bob

Post subject: Re: CBS profits plunge 96%!

Posted: Sun Aug 09, 2009 12:07 pm

Joined: Fri Oct 12, 2007 12:35 pm
Posts: 4896
Location: Division 1 Cook County Jail
pizza_Place: NEW YORK STYLE PEPPERONI FROM LOMBARDI'S IN MANHATTAN.

BeBe North should be running CBS!!!

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lipidquadcab

Post subject: Re: CBS profits plunge 96%!

Posted: Sun Aug 09, 2009 12:14 pm

Joined: Fri Jan 26, 2007 3:17 pm
Posts: 17678
Location: The Leviathan
pizza_Place: Frozen

Drop In wrote:

Most media companies should find new leaders right now. The business has changed dramatically.

I nominate these guys...they'll find you a profit...

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Beebo

Post subject: Re: CBS profits plunge 96%!

Posted: Sun Aug 09, 2009 12:47 pm

1000 CLUB

Joined: Mon Jun 14, 2004 9:58 am
Posts: 4456
Location: @ ROH Show Near Me.
pizza_Place: Freezer.

jimmypasta wrote:

This might mean more layoffs locally. Don't know how much more they can cut.

How much beer and truck advertising can you live off of? Auto industry in tank; someone has to realize the beer advertising isn't that effective.

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Score is doomed

Post subject: Re: CBS profits plunge 96%!

Posted: Sun Aug 09, 2009 7:42 pm

1000 CLUB

Joined: Sat Sep 17, 2005 9:29 pm
Posts: 4614

Drop In wrote:

Most media companies should find new leaders right now. The business has changed dramatically.

Most media companies should find NEW talent now, the ones they have sure aren't producing for the big money they get.

I'm a stockholder and I suggest they either substantially slash salaries for the "on air talent" or find new talent, because the ones they have aren't producing.

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Beebo

Post subject: Re: CBS profits plunge 96%!

Posted: Sun Aug 09, 2009 8:08 pm

1000 CLUB

Joined: Mon Jun 14, 2004 9:58 am
Posts: 4456
Location: @ ROH Show Near Me.
pizza_Place: Freezer.

Score is doomed wrote:

Drop In wrote:

Most media companies should find new leaders right now. The business has changed dramatically.

Nor will they, SID. Place is run by MBAs. MBAs don't create: they mimic what succeeded in the past, often with no idea why something flew and others went splat.
Most media companies should find NEW talent now, the ones they have sure aren't producing for the big money they get.

I'm a stockholder and I suggest they either substantially slash salaries for the "on air talent" or find new talent, because the ones they have aren't producing.

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Middle Aged Crazy, like Uncle Terry

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FYI

Post subject: Re: CBS profits plunge 96%!

Posted: Mon Aug 10, 2009 9:54 pm