It totals $2.27 billion, with the boost coming primarily from higher television license fees and affiliate revenues partially offset by lower local advertising sales.
CBS Corp. Thursday afternoon reported results for the third quarter ended Sept. 30. Television revenues (CBS Television Network, CBS Television Stations, CBS Television Studios, CBS Studios
International, CBS Television Distribution, CBS College Sports Network, CBS Films and Showtime Networks) increased 9% to $2.27 billion from $2.08 billion for the same prior-year period primarily due to higher television license fees and affiliate revenues partially offset by lower local advertising sales.
Television license fees increased 36% due to higher domestic syndication sales in 2009, which included the first cycle sales of Medium, Criminal Minds, Ghost Whisperer, Everybody Hates Chris and Numb3rs, compared to 2008, which included license fees for the domestic syndication sale of CSI: NY.
Affiliate revenues increased 11% primarily due to growth in subscriptions and rate increases at Showtime Networks and CBS College Sports Network, and higher retransmission revenues. Advertising sales decreased 5% due to softness in the local advertising marketplace and lower political advertising sales.
For the company as a whole, revenues for the third quarter of 2009 totaled $3.35 billion compared to $3.38 billion for the same prior-year quarter due to lower advertising sales largely offset by higher syndication sales.
Net earnings for the third quarter of 2009 were $207.6 million versus a net loss of $12.46 billion for the same quarter last year and diluted earnings per share were $.30 in 2009 compared to a loss of $18.58 per diluted share in 2008.