CBS Corp. reported a fourth-quarter loss of $9.1 billion on charges to write down the value of its radio and television businesses, the media company said Thursday.
CBS was reporting earnings for the first time as a separate company since its split with Viacom Inc. was completed at the beginning of the year. CBS reported the fourth quarter as if it were already a separate entity.
On that basis, CBS had a net loss of $9.14 billion ($6 per share), compared with a loss of $18.44 billion ($10.99) a year earlier. Excluding the charges, and assuming the split had occurred at the beginning of 2005, CBS said earnings would have been $311 million (41 cents per share). Revenue rose 2 percent to $3.83 billion from $3.75 billion in the year-prior period.
