CBS Earnings Fall; No Strike Impact and Clear Channel Said to Cut TV Sale Price

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City of Industry, CA --(www.USEquityNews.com)-- 02/27/2008 - Media entertainment industry alert provided by U.S. Equity News. CBS Corp. (NYSE: CBS) came through a writers' strike relatively unscathed but issued a mild outlook for profit growth in 2008. CBS, which also owns a major radio broadcaster and the Simon & Schuster book publishing business, reported a 14.6 percent decline in fourth-quarter earnings Tuesday. CBS earned $286.2 million, or 42 cents per share, in the three months ending in December, down from $335 million, or 43 cents per share, in the same period a year ago.


Playboy (NYSE: PLA) Mobile recently announced its 2008 strategy for extending the Playboy brand to a broader audience via its newest mobile initiative -- the inaugural "Miss Playboy Mobile 2008" model search. Harnessing the power of the online community and coupling it with the millions of mobile-phone users nationwide, Playboy Mobile will invite sophisticated, sexy women to register and build online profiles in their quest to be crowned Miss Playboy Mobile 2008. Visitors to the online and mobile sites can view the beautiful candidates and then vote for their favorite -- bringing her closer to the 2008 crown, a $5,000 cash-prize, and a professional photo-shoot at the world-famous Playboy Mansion in Los Angeles.

Clear Channel Communications Inc. (NYSE: CCU) has agreed to drop the price for its television group by $100 million in an effort to preserve a deal with a private equity firm, a person familiar with the matter said Monday. Clear Channel and Providence Equity Partners, a firm that controls the buyer for the 56 stations, agreed in principle to cut the price on the deal that had been valued at $1.2 billion, said a person who spoke on condition of not being identified because the price cut depends on the support of the equity firm's bankers. The parties were expected to meet Monday, but the person said later in the day that no new information was available.

EPIC Corporation (OTC: EPIO) announced that it has entered into an agreement to purchase a television station in Northern California. EPIC's objective is to have a direct satellite link to market its original sports and entertainment programming potentially reaching over 4,000 independent stations nationwide that have a market for original and affordable programming. The company has received its booking, management and managers license for boxing and martial arts events.

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