CBS Returns to Profit, Helped by Syndication Sales

CBS Corp. posted a third-quarter profit on higher syndication sales as advertising revenue improved. A year earlier, the media giant posted a huge loss on a write-down of its local television and radio stations.

Profits rose in every division except radio and outdoor advertising.

Chief Executive Leslie Moonves said CBS's results have improved each quarter from the previous one this year as "the operating environment for our businesses continues ...

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