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CBS Corp's profit beats despite drop in advertising revenue
JAY GORY, MANAGING EDITOR, business
Advertising sales, which accounts for half of the company's total revenue, fell 2.8 percent to $1.80 billion partially due to fewer NFL Thursday night football games this quarter as well as lower-than-expected ratings for those games. On a call with analysts Wednesday, CBS Chief Executive Officer Leslie Moonves said that CBS was in talks with the NFL about new formats to speed up games to help with ratings, but he said CBS would not cut ads. "If there are ways to do advertising in different ways, we are looking at that," Moonves said. read more


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