CBS Q2 lower over NCAA semifinals, soft ad market

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CBSCBS saw revenue decline in Q2 as it lost some TV licensing revenue from the shift of the NCAA Men’s Basketball Championship semifinals to Turner. Revenues were $3.19 billion for the quarter compared with $3.37 billion for Q2 2013. Operating income before depreciation and amortization (OIBDA) of $801 million and operating income of $730 million for the second quarter were each down 6% from the same prior-year period as a result of the lower revenues.

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