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