MUMBAI: US media conglomerate CBS has reported what it says is its strongest ever quarterly results, including revenue that exceeded $4 billion for the first time since it became a stand-alone company from Viacom in 2006. CBS also reported operating income of $800 million, which is an increase of 18 per cent.

CBS executive chairman Sumner Redstone said, "CBS has started the year with a terrific first quarter. Our premium content and multiplatform distribution strategy are leading to results that are better than ever. I am confident that this approach, under the guidance of Leslie and his team, will continue to propel CBS ahead in the years to come."

CBS president CEO Leslie Moonves said, "Across key financial measures-including revenue, OIBDA, operating income, and EPS-this was the most successful quarter in our company?s history. The value of our world-class content clearly continues to rise. In terms of big-event television, we had tremendous success during the quarter with the Super Bowl, the Grammys, the NCAA men?s basketball tournament, and more recently, the Academy of Country Music Awards. And our primetime lineup continues to dominate as well. The CBS Television Network is poised to win the season across all demographics, putting us in a very strong position as we prepare to unveil our new primetime lineup at the Upfront later this month."

"In the weeks that follow, we?ll be selling our schedule into an advertising marketplace that continues to improve, and we expect to once again lead the competition in pricing and volume. At the same time, our previously announced outdoor initiatives are well underway and, once complete, will solidify CBS as a company entirely centered on content." He further added.

"As the transformation of CBS continues, we are confident we will continue to create and distribute the best programming, drive earnings, and return value to our shareholders well into the future." He concluded.

The company posted its highest quarterly results in the following key metrics:

• Revenue of $4.04 billion
• Operating income before depreciation and amortisation("OIBDA") of $916 million
• Operating income of $800 million
• Diluted earnings per share from continuing operations of $.73

Revenues of $4.04 billion for the first quarter of 2013 increased by six per cent from $3.80 billion in the same prior-year period; this growth was led by an eight per cent increase in ad revenues, which was driven by the broadcast of Super Bowl XLVII on CBS. The timing of the semifinals of the NCAA Division I Men?s Basketball Championship, which aired during the second quarter in 2013 versus the first quarter in 2012, as well as one less week of NFL games broadcast during the quarter, partially offset the ad growth.

Affiliate and subscription fee revenues rose by 14 per cent driven by 62 per cent higher re-transmission revenues and fees from CBS Television Network affiliated television stations as well as growth at Cable Networks. Content licensing and distribution revenues were down by one per cent primarily because of the timing of theatrical releases and a significant syndication sale in 2012. At the same time, content licensing and distribution revenues benefited from a 19 per cent increase in streaming revenues.

OIBDA of $916 million increased by 15 per cent in the first quarter of 2013 from $796 million for the same prior-year period; operating income of $800 million increased by 18 per cent from $677 million in the first quarter of 2012, and the operating income margin rose two percentage points, to 20 per cent. The OIBDA and operating income growth and
margin expansion were primarily driven by higher affiliate and subscription fee revenues and the broadcast of Super Bowl XLVII on CBS.

Net earnings from continuing operations were $463 million for the first quarter of 2013, or $.73 per diluted share, up from $394 million, or $.59 per diluted share, for the same prior-year period.

Free cash flow was $576 million for the first quarter of 2013, compared with $620 million for the first quarter a year ago. The company generated operating cash flow from continuing operations of $610 million for the first quarter of 2013 versus $655 million for the first quarter of 2012, primarily reflecting increased investment in television content.

Entertainment (CBS Television Network, CBS Television Studios, CBS Global Distribution Group, CBS Films, and CBS Interactive) Entertainment revenues of $2.54 billion for the first quarter of 2013 increased by 10 per cent from the same prior-year period, driven by higher ad revenues from the broadcast of Super Bowl XLVII on CBS as well as growth in network affiliation fees. These revenue increases were partially offset by one less week of NFL games during the first quarter of 2013 as well as the timing of the semifinals of the NCAA Division I Men?s Basketball Championship, which aired during the second quarter in 2013 versus the first quarter in 2012.

Entertainment OIBDA for the first quarter of 2013 increased by 17 per cent to $480 million from $411 million for the same prior-year period, principally reflecting the segment?s revenue growth Cable Networks: (Showtime Networks, CBS Sports Network, and Smithsonian Networks). Cable Networks revenues for the first quarter of 2013 increased by six per cent to $478 million from $452 million for the same prior-year period; the growth was driven by higher affiliate revenues from increases in rates and subscriptions at Showtime Networks (which includes Showtime, The Movie Channel, and Flix)

Cable Networks OIBDA for the first quarter of 2013 increased by 11 per cent to $231 million from $209 million for the same prior-year period, primarily reflecting the growth in Cable Networks revenues, which were partially offset by higher programming costs.

MUMBAI: The network and studio Warner Bros. Television are currently chalking out a fresh deal for, the ?half? in the title, young star Angus T. Jones to persist on the Chuck Lorre comedy, as reported by the Hollywood Reporter.

Meanwhile, stars Ashton Kutcher, who play the role of the goofy billionaire Walden Schmidt and Jon Cryer who plays the middle aged Alan Harper have inked new one-year deals for season eleven and will return to the series as before. The news doesn?t spring much of a surprise as Jones had been vocal about his desire to focus on college following Men?s tenth season.

Jones has also publicly expressed his views about the way the series had used his character in the tenth season, as Jake frequently appeared via Skype after having enlisted in the military in the show.

CBS entertainment chief Nina Tassler told reporters in January at the Television Critics Association?s winter press tour that she?d like to see Jones continue with the series despite his provocative digs at the series that had made him an overnight star.

"He made his public apology and we?ve moved on," she said of Jones? comments, in which he declared the show as "filth" and urged viewers to stop watching. "The kid is 19 years old. I?ve got a 24-year-old. Between the ages of 19 and 24, there?s been plenty of things my kid has said that I wish he hadn?t. The bottom line is cooler heads prevailed," Tassler concluded.

The series, which moved to the prime slot post - Big Bang Theory on Thursdays at 8:30 p.m. in its tenth season, averaged 4.2 rating among the core adults (18-49) demographic.

As for whether the Thursday night comedy would go beyond eleven seasons, Tassler took a "we?ll see" approach. "We have such a crazy success story in terms of our long-running shows, who knows," she said.

The Indian viewers who have enjoyed all the previous seasons on Star World would be eagerly awaiting the eleventh season, but it is still unclear if the Lorre hit comedy would continue airing on Star World in India.

MUMBAI: US broadcaster CBS has renewed 18 series for the 2013-2014 broadcast season.

Some of these shows air in India on Big CBS Prime and Big CBS Love, the two channels that CBS runs in India through its JV with RBNL.

According to CBS, these mass renewals showcase its strength and stability among viewers in the 18-49 and 25-54 demographics.
The renewals, comprising 16 hours of CBS? primetime schedule, consist of four comedies, nine dramas, three reality series and two news magazines. The returning shows encompass every night of the week and every hour.

The renewed comedies include the previously announced ?The Big Bang Theory?, the final season of ?How I Met Your Mother? as well as ?2 Broke Girls? and ?Mike and Molly?.

Among the returning dramas are the previously announced ?NCIS? and ?CSI?. Other dramas renewed include ?NCIS: Los Angeles?, ?Person Of Interest? and ?Hawaii Five-0?.