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Moonves says CBS didn't take financial hit from channel blackout
September 11, 2013 / 7:04 PM / 4 years ago

Moonves says CBS didn't take financial hit from channel blackout

LOS ANGELES, Sept 11 (Reuters) - 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 in a presentation at a Bank of America Merrill Lynch conference.

Analysts had speculated that the blackout, which affected more than 3 million Time Warner Cable subscribers, would have impacted advertising revenues for the network.

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