While CBS (NYSE: CBS) gave improved advertising most of the credit for its good financial results--which the Big Eye network said should continue to be positive--the $250 million worth of retransmission consent fees that will roll in by the end of 2012 certainly had an impact as well.
Cable was a big part in the CBS funfest; cable network revenues were up 9 percent over the year as more subscribers signed up for Showtime and the CBS College Sports Network refocused its attention on what some believe will be a competitive move against ESPN and Comcast's (Nasdaq: CMCSA) new array of NBC-based sports channels.
Overall, CBS reported full year revenues that were up 8 percent to $14 billion and net profits that skyrocketed 219 percent to $724 million.
- Variety has this story
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