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Last $49.41 USD
Change Today -0.46 / -0.92%
Volume 4.1K
CBS/A On Other Exchanges
Symbol
Exchange
New York
New York
Munich
Berlin
As of 4:15 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

cbs corp-class a voting (CBS/A) Key Developments

Cablevision Systems Corporation and CBS Corporation Reach New Comprehensive Content Carriage Agreement

Cablevision Systems Corporation and CBS Corporation announced a broad-based multi-year content carriage agreement. The new deal covers retransmission consent for CBS-owned stations, and the continued carriage of SHOWTIME, CBS Sports Network and Smithsonian Channel. As part of the new agreement, Cablevision is the first cable or satellite provider to announce plans to distribute CBS All Access and SHOWTIME Internet services to its Optimum Online customers. Pricing plans, timing and other particulars will be provided at a later time.

CBS Mulls Acquisitions

Joseph Ianniello, Chief Operating Officer of CBS Corporation (NYSE:CBS), said that the company doesn't need to do M&A as the company is “strategically complete.” The company looks at "every [potential] acquisition," but won't lose financial discipline.

CBS Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

CBS Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced revenues of $3,219 million compared to $3,188 million a year ago. Earnings from continuing operations before income taxes were $503 million compared to $645 million a year ago. Net earnings from continuing operations were $332 million or $0.67 per diluted share compared to $418 million or $0.72 per diluted share a year ago. Net earnings were $332 million or $0.67 per diluted share compared to $439 million or $0.76 per diluted share a year ago. Adjusted operating income was $641 million compared to $730 million a year ago, reflecting higher investment in programming and digital distribution initiatives. Net cash provided by operating activities was $446 million against $123 million a year ago. Capital expenditures were $29 million against $41 million a year ago. Free cash flow was $435 million against $4 million a year ago. Adjusted earnings from continuing operations before income taxes were $558 million, as a result of the lower adjusted operating income. Adjusted net earnings from continuing operations were $365 million or $0.74 per diluted share. Operating income was $586 million compared to $730 million a year ago. For the six months, the company announced revenues of $6,719 million compared to $6,758 million a year ago. Earnings from continuing operations before income taxes were $1,113 million compared to $1,351 million a year ago. Net earnings from continuing operations were $726 million or $1.45 per diluted share compared to $880 million or $1.49 per diluted share a year ago. Net earnings were $726 million or $1.45 per diluted share compared to $907 million or $1.54 per diluted share a year ago. Net cash provided by operating activities was $863 million against $624 million a year ago. Capital expenditures were $46 million against $69 million a year ago. Adjusted operating income was $1,343 million compared to $1,521 million a year ago. Free cash flow was $835 million against $524 million a year ago. Adjusted earnings from continuing operations before income taxes were $1,168 million and adjusted net earnings from continuing operations were $759 million or $1.52 per diluted share. Operating income was $1,288 million compared to $1,521 million a year ago.

CBS Corporation Approves Quarterly Dividend, Payable on October 1, 2015

CBS Corporation announced that its board of directors has approved a quarterly dividend on the company's stock of $0.15 per share. The dividend is payable on October 1, 2015, to shareholders of record on September 10, 2015.

CBS Corporation and Sinclair Broadcast Group, Inc. Announces Comprehensive Deal Renews Station Affiliation Agreements for 16 Markets Nationwide

CBS Corporation and Sinclair Broadcast Group Inc. have announced a comprehensive deal that renews station affiliation agreements for 16 markets nationwide. The markets renewed cover 6% of the U.S. and serve approximately seven million households. The agreement includes renewals for 15 Sinclair-owned CBS affiliates: WRGB in Albany-Schenectady, N.Y.; KBAK-TV in Bakersfield, Calif.; KFDM in Beaumont, Texas; KBOI in Boise, Idaho; WKRC in Cincinnati, Ohio; KRCG in Columbia-Jefferson City, Mo.; KDBC in El Paso, Texas; KVAL in Eugene, Ore.; WWMT in Grand Rapids-Kalamazoo, Mich.; WHP in Harrisburg, Pa.; KTVL in Medford, Ore.; KTVO in Ottumwa, Iowa-Kirksville, Mo.; KHQA in Quincy, Ill.-Hannibal, Mo.; WPEC in West Palm Beach, Fla.; and KIMA-TV in Yakima, Wash. CBS has also renewed its affiliation with KMEG in Sioux City, Iowa, a station to which Sinclair provides sales and other services.

 

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Industry Analysis

CBS/A

Industry Average

Valuation CBS/A Industry Range
Price/Earnings 19.7x
Price/Sales 1.6x
Price/Book 3.7x
Price/Cash Flow 6.7x
TEV/Sales 0.9x
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