CBS Profit to Climb $180 Million on Political Ads, CEO Says
This article is for subscribers only.
CBS Corp. profit will climb by $180 million this year from political advertising, Chief Executive Officer Les Moonves said, exceeding the amount received by the company in the last presidential election year.
Political action committees are boosting the amount of money being spent on television and radio commercials in support of candidates and issues, Moonves said today at an entertainment law conference at the University of California, Los Angeles. CBS will take in more political ads than the 2008 presidential election year, he said.