Time Warner and CBS reap rewards of advertising rebound

Posted At : 06 May 2010 12:26 | Posted By : Nicola Hutcheon
Related Categories: Advertising, United States, Television

Time Warner and CBS both said yesterday that they were much more optimistic thanks to a rebound in national and local television advertising.

First-quarter net profits at Time Warner rose to US$725 million, from US$467 million a year ago, with total revenue up 5% year-on-year to US$6.3 billion. CBS meanwhile reported a 40% increase in underlying profits.

Talking about the 'upfronts season', when TV networks pre-sell advertising ahead of the upcoming season, Leslie Moonves, chief executive of CBS, said: "It will be the strongest one in years".

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