Sept 11 CBS Corp suffered no financial
impact from the month-long blackout of its broadcast channel in
New York, Los Angeles and Dallas during its stalemate with Time
Warner Cable in a rate dispute, according to CBS Chief
Executive Leslie Moonves.
The top-rated broadcast network was not forced to give
advertisers "make goods," or compensation when a network misses
its promised ratings, Moonves said on Wednesday at a Bank of
America Merrill Lynch conference.
"You will see at our third-quarter earnings there was no
harm done financially to CBS Corp from this," Moonves said.
Analysts had speculated that the blackout, which affected
more than 3 million Time Warner Cable subscribers, would have
impacted advertising revenues for the network.
CBS shares rose 0.7 pct to $54.46 in afternoon trading on
the New York Stock Exchange.