Despite solid ratings at its flagship broadcast network, the CBS Corporation had a sharp drop in revenue and profit in the recent quarter as advertising deteriorated.
Over all in the fourth quarter, CBS, a part of Sumner M. Redstone's media empire, reported revenue of $3.53 billion, down 6 percent from last year's fourth quarter. This was slightly below the $3.58 billion expected by Wall Street analysts, according to Thomson Reuters.
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