CBS' Moonves Paints Upbeat Revenue Picture
December 8, 2010 at 4:31 AM (PT)
At the UBS Global Media and Communications Conference in NEW YORK TUESDAY (12/8), CBS CORPORATION President/CEO LES MOONVES said that the company is seeing the advertising market continue to grow with radio up in the single percentage digits but television rising over 20%, reports the HOLLYWOOD REPORTER. MOONVES called 2010 "a fabulous year across the board" for advertising but cautioned that 2011 would face a tough comparison to 2010 due to the loss of political revenue and CBS' loss of SUPER BOWL revenue.
LIBERTY MEDIA CEO GREG MAFFEI addressed the HOWARD STERN issue at the conference, saying that SIRIUS XM RADIO's CEO MEL KARMAZIN is "very involved" in negotiations with STERN, according to the REPORTER. Responding to an analyst's question about whether STERN is critical for SIRIUS XM, MAFFEI said, "We are all critical to some degree. We'll see what happens."