CBS Corp. Breaks Out Radio Financial Results For Last 6 Quarters As Spinoff Looms

Details

CBS CORP., which reported its second-quarter financials in AUGUST, has told the SEC that it will henceforth separate results for the Radio and Local Media (local television) segments from the previously-reported combined Local Broadcasting segment as it prepares to spin the radio division off, and has issued a supplemental report breaking out the two divisions' results for the last six quarters.

According to the document, radio revenues for 2015 and 2016 were:

• First Quarter 2015 $271 million
• Second Quarter 2015 $318 million
• Third Quarter 2015 $318 million
• Fourth Quarter 2015 $325 million
• First Quarter 2016 $265 million
• Second Quarter 2016 $314 million

Segment Operating Income for radio was:

• First Quarter 2015 $52 million
• Second Quarter 2015 $70 million
• Third Quarter 2015 $73 million
• Fourth Quarter 2015 $83 million
• First Quarter 2016 $56 million
• Second Quarter 2016 $82 million

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