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Tuesday, August 3, 2010

Led by the biggest markets, CBS Radio revenues grew 6% in the second quarter

CBS Radio

CBS says its ten largest markets turned in the best performances, with revenue improving an average of 10%. Division-wide, CBS Radio revenues increased from $322 million to nearly $341 million, for a 6% gain. As good as the radio revenues were, they were dwarfed by the dramatic growth at the CBS Television stations unit: up 31% to nearly $338 million. On the TV side, CBS credits higher spending from auto, financial services and political categories. On today’s conference call, CFO Joe Ianiello says “local is coming back at a faster pace” than national, and it is “very broad, all categories across the board.”

Tags: CBS Radio

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