CBS 3Q earns beats views, revenue comes up short

Associated Press Modified: November 7, 2012 at 5:15 pm •  Published: November 7, 2012
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He said that selling past seasons of shows that are airing new episodes on broadcast TV could benefit both audience ratings and the bottom line. He suggested viewers would use online services to catch up on old shows and then tune in when new episodes come on TV. The effect would likely be the same as its practice of selling past seasons of current shows for reruns on other networks and non-CBS TV stations.

"We have come to the conclusion that the streaming of previous seasons of current shows will actually be a benefit," Moonves said. "As we saw with NCIS, which went into syndication, (audience) ratings went up."

Moonves said such online video deals could "have a major impact on our results next year."

CBS shares rose 52 cents to $34.52 in after-hours trading. The stock fell 43 cents to close at $34 in the regular session. Shares hit a 52-week high of $38.32 in September.

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