CBS secures ad rate rises of up to 8.5 percent for fall season

Fri Jun 7, 2013 9:03pm EDT

(Reuters) - The CBS broadcast television network is close to finishing sales of roughly $2.7 billion in advance advertising commitments for the fall TV season, a person familiar with the negotiations said on Friday.

CBS, a unit of CBS Corp, secured rate increases of 7.5 percent to 8.5 percent over the prices it charged last year, the person said. Barclays Capital analysts had expected a 6.5 percent increase.

CBS is the most-watched U.S. network in total viewers and led rivals last season in the 18- to 49-year-old age group most desired by advertisers.

(Reporting by Lisa Richwine; Edited by Ronald Grover and Eric Walsh)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.