CBS reports its quarterly earnings later today and expectations are… well… low. That’s not surprising to anyone who has watched a parade of bad numbers coming out of the other big media companies this quarter. Viacom. Time Warner. Walt Disney. News Corp. There were few positive notes in any of them.
CBS has made a big deal about its dividend. Just three months ago, Chief Executive Les Moonves made clear his commitment to the quarterly payout to shareholders, who, by the way, have seen the stock fall nearly 75 percent in the last 12 months. Yep, 75 percent.