Financial Times FT.com

CBS suffers ad revenue drop

By Joshua Chaffin in New York

Published: August 1 2008 01:28 | Last updated: August 1 2008 01:28

CBS suffered a 6 per cent drop in television advertising revenue in the second quarter, citing a pullback by auto dealers and other local businesses amid a slowing economy.

That decline came in spite of record contributions from political advertising and followed a report this week of disappointing advertising sales by Viacom, CBS’s sister company.

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