CBS, Reporting First Solo Results, Writes-Down $9.5 Billion

27 February 2006

    The New York-headquartered broadcaster, reporting earnings as a separate company for the first time since its split from Viacom, wrote down the goodwill value of its television and radio assets by $9.5 billion (€7.99bn; £5.44bn) - resulting in a massive loss for the fourth quarter.
    CBS Corporation said its Q4 loss narrowed to $9.14bn from a loss of $18.44bn a year earlier. Revenue rose 2% to $3.83bn from $3.75bn.