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Bulletin: CBS Corp. Ratings Not Affected By Don Imus' Departure Apr 07
Standard & Poors, April 2007
Abstract
NEW YORK (Standard & Poor's) April 13, 2007--Standard & Poor's Ratings Services said today that the announcement by CBS Corp. (BBB/Stable/A-2) that it is ceasing to broadcast programming of on-air radio personality Don Imus has no immediate effect on ratings for CBS and subsidiaries. The dismissal of the popular radio host comes at a challenging time for CBS Radio, which experienced an 11% decline in EBITDA for 2006, largely driven by the exit of on-air personality Howard Stern in January 2006 and programming changes at 27 former Stern-carrying stations. We believe that the departure of Imus, whose morning show was carried on 61 stations, will not have a significant impact on profitability. The radio group accounts for roughly 26% of...
Companies mentioned in this report are: CBS Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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