NEW YORK Amid a worsening advertising market, CBS Corp. today reported a third-quarter net loss of $12.5 billion. As the company reported earlier this month, it took a $14.1 billion write-down on its businesses.
Revenue for the quarter was up 3 percent to $3.4 billion, driven by the company’s acquisition four months ago of CNET and growth in the syndication business. For the first nine months, CBS revenue was basically flat at $10.42 billion.
For the first time, CBS broke out interactive as a separate reporting segment.
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