Pursuits
CBS Profit Rises on Fees From Pay-TV, Streaming Agreements
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CBS Corp., locked in a fee dispute with Time Warner Cable Inc., said second-quarter profit rose 11 percent, spurred by higher rates from pay-TV systems and new Internet streaming agreements.
Net income increased to $472 million, or 76 cents a share, from $427 million, or 65 cents, a year earlier, New York-based CBS, owner of the most-watched TV network, said yesterday in a statement. Analysts had forecast 72 cents, the average of 27 estimates compiled by Bloomberg.