CBS Radio Revenue Up 1% in Q4 - Radio World

CBS Radio Revenue Up 1% in Q4

Overall Q4 revenue of $3.7 billion, up 2%
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CBS Radio reported a 1% increase in revenue for the fourth quarter of the year. Overall company revenue was up 2% to $3.7 billion in the quarter.

Higher ad revenues accounted for the growth, especially the bump in political advertising, according to company officials.

CBS Corp. Executive Chairman Summer Redstone said the results speak to the “strength of our strategy — producing and distributing great content and monetizing it over and over again.”

Wells Fargo Senior Analyst Marci Ryvicker says the company’s Radio Sports network is likely to contribute “a few million additional dollars” to the company going forward.

The broadcaster also announced its accelerating the pace of its share repurchasing program by another billion dollars.

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CBS Radio Revenue Falls

In the company’s fourth quarter, “same station” revenue fell 7%, and overall radio revenue decreased 10%, reflecting weakness in ad sales as well as the impact of radio divestitures in 10 markets.