CBS' Moonves Upbeat Despite Rough First Half

NEW YORK CBS Corp.’s sales and profit fell in the second quarter compared to a year ago, but improved over Q1 ’09.

CBS CEO Leslie Moonves — citing those results along with a “very pleasing” turn of events in the upfront market, as well as a surprisingly strong Q3 scatter market — today proclaimed: “We’re seeing light at the end of the tunnel,” even as the recession continues.
 
“The economic climate is still very difficult,” he said.

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