Last $61.43 USD
Change Today -0.42 / -0.68%
Volume 3.4K
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

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

Univision May Take Year Or More To Decide On Potential Sale

Univision Communications Inc. held preliminary talks with CBS Corporation (NYSE:CBS) and Time Warner Inc. (NYSE:TWX) earlier this year about a potential sale but its Board could take a year or longer to decide on a possible deal, said Reuters, citing people familiar with the matter.

Univision Looking For A Buyer

Univision Communications Inc. is looking for a buyer and starting with a $20 billion asking price. So far, Time Warner Cable Inc. (NYSE:TWC) and CBS Corporation (NYSE:CBS) are said to have had preliminary discussions about acquiring the company, but those talks have not progressed very far.

CBS Corporation Approves Quarterly Dividend, Payable on July 1, 2014

CBS Corporation announced that its board of directors has approved a quarterly dividend on the company's stock of $0.12 per share. The dividend is payable on July 1, 2014, to shareholders of record on June 10, 2014.

Judge's Ruling Favors CBS Lawsuit Filed by Former Talent Agent

CBS Corporation announced that Los Angeles superior court judge has ruled that George Litto, the former talent agent for the late Hawaii Five-0 creator Leonard Freeman, isn't entitled to revenue generated by the CBS reboot of the television crime series. Judge Elizabeth Allen White issued a proposed statement of decision finding that a 1997 deal between CBS and Freeman's widow, Rose Freeman, didn't include rights to the new series, which just finished its fourth season and is set to begin filming the fifth season this summer. Litto had filed a $100 million lawsuit in 2012 claiming he was cut out of the financial success of the new "Hawaii Five-0," which is filmed almost entirely on Oahu. Litto and the defendants, who included Freeman's heirs and CBS, had appeared headed for a settlement before the case went to trial before white earlier this month.

CBS Corporation Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014

CBS Corporation announced unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of $3,856 million against $4,040 million a year ago. Operating income was $818 million against $800 million a year ago. Earnings from continuing operations before income taxes was $720 million against $705 million a year ago. Net earnings from continuing operations was $468 million or $0.78 per diluted share against $463 million or $0.73 per diluted share a year ago. Net earnings was $468 million or $0.78 per diluted share against $443 million or $0.69 per diluted share a year ago. Net cash flow provided by operating activities from continuing operations was $521 million against $610 million a year ago. Capital expenditures was $36 million against $34 million a year ago. OIBDA was $930 million against $916 million a year ago.

 

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CBS/A:US $61.43 USD -0.42

CBS/A Competitors

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Company Last Change
British Sky Broadcasting Group PLC 880.50 GBp +11.00
DISH Network Corp $65.84 USD +0.69
Liberty Global PLC $44.37 USD +0.68
Omnicom Group Inc $71.27 USD -0.09
Viacom Inc $85.37 USD -0.92
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Industry Analysis

CBS/A

Industry Average

Valuation CBS/A Industry Range
Price/Earnings 20.1x
Price/Sales 2.4x
Price/Book 4.2x
Price/Cash Flow 13.8x
TEV/Sales 1.6x
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