NEW YORK The economy continues to take its toll on the ad-driven media, as evidenced by CBS’ 6 percent drop in fourth-quarter revenue to $3.52 billion and 46 percent dip in operating income before depreciation and amortization (OIBDA) to $448.9 million.
For the full year, revenue fell 1 percent to $13.95 billion, with a 17 percent slide in OIBDA to $3.07 billion. Those figures do not include the $14 billion write-down (or “impairment charge,” as the company calls it) CBS took in the third quarter.
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