Expectations are low for CBS' earnings (Dinosaur Media DeathWatch™)

Los Angeles Times ^ | February 17, 2009 | Meg James

[abb]

CBS declared itself "Mentally Strong" in a news release the other day, trumpeting the big ratings for the network's latest hit drama, " The Mentalist."

Fiscally fit, however, is the question.

The broadcasting giant today reports quarterly results, and Wall Street is bracing for grim numbers -- and looking for CBS Corp. to outline a strategy for how it will navigate the choppy waters ahead.

snip

But all that isn't of much help right now for CBS, which is uniquely vulnerable to the recession because nearly 70% of its revenue comes from advertising. TV and radio stations have been battered as mainstay advertisers such as automakers, financial firms and retailers have slashed spending. Unlike media rivals Time Warner Inc., Walt Disney Co. and News Corp., CBS doesn't have a broad stable of cable channels pouring in subscriber revenue to offset advertising declines.

The nose dive in TV and radio ads is hitting the company on the balance sheet. Last fall CBS took a $14-billion write-down to reflect the diminished value of its broadcasting assets and billboards. Since then, the economy has eroded further. CBS' Internet play -- spending $1.8 billion to buy technology news operation CNet Networks Inc. -- is widely considered an ill-timed investment in the wake of a massive retrenchment in online advertising.

snip

Some analysts have further suggested that CBS could face a cash crunch and a problem meeting a $1.6-billion debt repayment due in 2010.

"Local ad trends continue to shock us with unimaginable rates of decline," Sanford C. Bernstein & Co. analyst Michael Nathanson wrote in a recent report.

CBS' decision about its dividend payment is playing out against the backdrop of the credit troubles facing Sumner Redstone, the 85-year-old controlling shareholder of CBS and Viacom.

snip

[abb]

"By the end of this decade or shortly thereafter, television networks as we know them today will cease to exist. They will be just another url on the world wide web competing against millions of others."

"Network evening newscasts will go dark after the '08 elections and their news divisions disbanded."

Walter Abbott, (b. 1950), Media observer and commentator

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ping

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http://bristolnews.blogspot.com/
More cuts looming at Courant

http://cancelthebee.blogspot.com/
Report: Fort Worth Star-Telegram to lay off several dozen employees, possibly up to 100

http://www.observer.com/2009/media/gee-whiz-pinch-jr-gets-desk-city-room
Gee Whiz! Pinch Jr. Gets Desk at City Room

[abb]

http://www.niemanlab.org/2009/02/alan-mutters-question-backfires/
Alan Mutter’s question backfires

http://www.beeguildnow.org/?p=140
Guild asks Gary to take paycut

[stayathomemom]

CBS declared itself "Mentally Strong" in a news release the other day, trumpeting the big ratings for the network's latest hit drama, " The Mentalist."

I tried to watch that last night but couldn't find CBS on my sling box. (My husband was watching some Esther Williams movie on the TV.) --- Psych is MUCH better.;)

[Tarpon]

I question mentally fit as well. All I see is a bunch of sycophants reading from a teleprompter. Come to think of it, it mirrors Obama, the arrogant one, who sees himself as something he isn’t, smart.

Is the economy fixed yet? No, why not?

[Doc Savage]

My understanding is that Couric ‘s budget has been criticized for her exorbitant spending on VAGISIL!

[abb]

http://boston.bizjournals.com/boston/stories/2009/02/16/daily13.html?ana=yfcpc
Globe, Sox sale could help NYT raise $1.2B

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=100480
CBS’ TV.com Sees Rise In Viewership

[ml/nj]

I hope they survive at least until after the Masters.

ML/NJ

[abb]

In another couple or three years, we’ll be watching it online. CBS will go back to being just three letters of the alphabet...

[abb]

http://www.newspaperdeathwatch.com/
Interview: A Newsosaur Reflects

http://www.broadcastingcable.com/article/174338-IBM_IBEC_ID_First_Broadband_Power_Players.php
IBM, IBEC ID First Broadband Power Players
Alabama, Indiana, Michigan and Virginia are the four states where broadband delivery over power lines will start

http://adage.com/digital/article?article_id=134671
Can Hulu Hold Off TV.com?

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http://www.medialifemagazine.com/artman2/publish/Magazines_22/On_the_crisis_in_magazine_circulation.asp
On the crisis in magazine circulation

The latest numbers from Audit Bureau of Circulation show huge declines

[MathDoc]

So, as their reputation vanishes, many years after the days when their news reports were patriotic and could be mistaken for honest, their profits have also vanished. It’s a shame they can’t imagine a cure for that problem ... except continuing their work as the propaganda arm of the Democrat Party.

[nbhunt]

Any knowlege on how FOX is doing? Still not the best station but better than the others.

[abb]

For all those years Cronkite and his contemporaries held sway without the internet and bloggers to check them. It makes one wonder if “that’s the way it really was...”

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http://tvbythenumbers.com/category/ratings/nielsen-overnight-tv-show-ratings

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http://www.politico.com/news/stories/0209/18971.html
Dem exclusive? Reporters jump ship

[BILL_C]

It makes one wonder if “that’s the way it really was...”

quit wondering, it wasn’t the way (SEE BS) said it was... BS led spreading the biggest lie in history, now watch the INTRODUCTION to the truth

http://www.youtube.com/watch?v=X8_kIDP4EQ0

[abb]

http://www.nypost.com/seven/02182009/business/slimmer_newsweek_has_mag_staff_steaming_155675.htm?page=0
SLIMMER NEWSWEEK HAS MAG STAFF STEAMING

http://www.reuters.com/article/televisionNews/idUSTRE51H0NV20090218
Barbara Walters, Steve Kroft bearish on TV news

http://www.internetnews.com/commentary/article.php/3803556/Why%2BSocial%2BMedia%2Bis%2BKilling%2BBad%2BTV%2BNews.htm
Why Social Media is Killing (Bad) TV News

http://www.observer.com/2009/media/propublica-s-60-minutes-infamy
ProPublica’s 60 Minutes of Infamy?