CBS Profit Falls 52% on TV Advertising, Charge

The marketplace was under increasing pressure throughout 2008, yet we were still able to deliver annual revenues of nearly $14 billion, adjusted operating profits of almost $2.8 billion and free cash flow of just under $1.7 billion–results that reflect the quality of our content and the enduring strength of our operations,” Les Moonves, president and CEO of CBS, said in a statement “As the...