CBS Profit Drops; TV, Radio Revenue Declines and DreamWorks Rides 'Shrek' to 4Q Profit

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City of Industry, CA --(www.USEquityNews.com)-- 02/28/2008 - Media entertainment industry alert provided by U.S. Equity News. CBS Corp (NYSE: CBS) said recently quarterly profit fell about 15 percent, as sales of radio and TV stations undercut those businesses and its publishing division suffered from fewer hot book titles. CBS results still surpassed expectations, however, when the shedding of those stations and other one-time events are taken into account, as the media company reported an adjusted share of 54 cents against analyst expectations of 52 cents for the fourth quarter. The media company's quarterly results follow the settlement of a three-month strike by Hollywood screenwriters against film and TV studios, and come as most major networks are suffering from a steady decline in viewership for prime-time.


Gaylord Entertainment Company (NYSE: GET) announced recently that it will present to investors attending the Raymond James 29th Annual Institutional Investors Conference being held at the Hyatt Regency Grand Cypress in Orlando, Florida on Tuesday, March 4 at 3:25 p.m. ET. David Kloeppel, executive vice president and chief financial officer for Gaylord Entertainment, will communicate the Company's recent financial performance, growth objectives and business strategy. The presentation will be webcast and can be accessed on Gaylord's website at http://ir.gaylordentertainment.com.

DreamWorks (NYSE: DWA) Animation SKG Inc. said Tuesday it swung to a profit in the fourth quarter, as revenue rose 42 percent from a year earlier on the strength of the blockbuster performance by "Shrek the Third." The company said net profit reached $94.1 million, or 98 cents per share, up from a loss of $21.3 million, or 20 cents per share, in the fourth quarter of 2006. Quarterly revenue hit $290.2 million.

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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