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What can you say about local advertising in this economy? CBS executives kept their remarks short and sweet Wednesday (Feb. 18) during the company’s fourth quarter and full year 2008 conference call. Preferring to gloss over plunging revenues in its local radio, TV and outdoor businesses, Les Moonves, president and CEO for CBS instead talked up the one-third of CBS’ businesses that are non-advertising supported, including unspecified fees from retransmission consent.
The biggest hit to CBS’ local businesses was in fourth quarter when the bottom fell out of the ad market.
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