As CBS stations saw a slight increase in revenue for 2012′s first quarter, the company drew huge profits during the period thanks in part to an increase in revenue from carriage agreements.

CBS today reported an 80% increase in profit for the first quarter, which analysts attribute to the $60 million in retrans fees the company received from cable systems, nearly double the amount it received during the same period last year.  Not only did CBS receive a ton of carriage money from cable systems,  it also received a significantly bigger cut of the retrans fees its affiliates earn from cable providers.

Meanwhile, revenue at the CBS station group rose 2% during the first quarter. Read more

CBS announced its fourth quarter earnings on Wednesday and the company saw a 21% increase in local broadcasting revenue for the period.

The revenue increase was due primarily to growth in advertising sales.  Advertising revenue increased 28% in the final quarter of 2010 as stations benefited from an increase in political advertising surrounding last year’s midterm elections.

“CBS’s momentum accelerated throughout 2010, culminating in our best results of the year in the fourth quarter,” said Leslie Moonves, CBS’s president and CEO. “Every one of our operating groups achieved solid quarterly revenue growth.”

For the entire year of 2010, CBS’s local broadcasting revenues were up 18% compared to the previous year.

There’s a new management team at CBS News.

Sean McManus, the president of CBS News and Sports, will become chairman of CBS Sports. Jeff Fager, the executive producer of “60 Minutes,” has been named chairman of CBS News and David Rhodes (left), most recently the head of Bloomberg TV, has been appointed president of CBS News.

“We are extremely pleased that David Rhodes will be joining Jeff at the helm of CBS News,” said CBS president and CEO Leslie Moonves. “David is a tremendously talented and dynamic new voice in our organization, and he has already made a name for himself as a superb journalist and news executive with great energy, credibility and dedication.”

“The world needs great broadcast journalism right now—and we’re going to work tirelessly to produce that at CBS News,” said Rhodes. “I’ve enjoyed getting to know Jeff Fager, and hear his extraordinary passion for the institution. I can’t wait to meet the rest of the team and get started.” Read more at TVNewser