CBS Q2 lower over NCAA semifinals, soft ad market


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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