UPDATE: CBS CEO: Sales Pacings Improving At TV Stations
06 Agosto 2009 - 4:53PM
Noticias Dow Jones
Les Moonves, chief executive with CBS Corp. (CBS), said Thursday
the media company's third-quarter performance is showing
improvement over the second quarter - a sign he cited as showing
that an economic turnaround is underway.
"Signs of recovery that began in the second quarter have been
gathering steam in the third," said Moonves during a conference
call, though he acknowledged that economic conditions remain
difficult.
Moonves said sales pacings at the company's local television
stations, which have been pummeled by the economic downturn and
advertising slump, are showing steady improvement.
He also said third-quarter ad sales so far at the CBS Television
Network are currently up 30% from the same time last year.
In recent late trading, CBS shares are up 9.5% to $9.35.
-By Nat Worden, Dow Jones Newswires; 212-416-2472;
nat.worden@dowjones.com