CBS CEO: Sales Pacings Improving At TV Stations
06 August 2009 - 11:36PM
Dow Jones News
Les Moonves, chief executive with CBS Corp. (CBS), said Thursday
that the media company's third-quarter performance is showing
improvement over the second quarter - a sign he cited as showing
that an economic turnaround is underway.
"Signs of recovery that began in the second quarter have been
gathering steam in the third," said Moonves, though he acknowledged
that economic conditions remain difficult.
Moonves said sales pacings at the company's local TV stations,
which have been pummeled by the economic downturn and advertising
slump, are showing steady improvement.
-By Nat Worden, Dow Jones Newswires; (212) 416-2472;
nat.worden@dowjones.com