Mixed Results for CBS Corporation

NEW YORK, November 2: While CBS Corporation’s profit for the
third quarter was up 8 percent to $343.3 million, the company saw revenues dip
3 percent to $3.3 billion.

The company attributed the fall in revenues to lower television
license fees, the impact of radio and television station divestitures and the
absence of UPN, which ceased broadcasting in September 2006. Television
revenues were down 3 percent to $2.1 billion, while radio revenues fell 12
percent to $445.7 million. Outdoor revenues gained 3 percent to $552.2 million
and publishing revenues were up 9 percent to $214.2 million.

For the nine months ended September 30, 2007, revenues fell
1 percent to $10.3 billion, while profit decreased from $1.3 billion to $960.8
million.

For the year, the company is expecting a 2 percent to 3
percent fall in revenues, with the absence of UPN and the sale of 39 radio
stations and 9 TV stations.

—By Mansha Daswani