Netflix Deal Lifts Cbs
Summertime television reruns may be bad news for viewers but the ability of CBS to move some of its older shows off the shelves and into the hands of digital distributors proved to be a boon to the broadcaster in the last quarter. The company saw its net profit more than double during the quarter, which was the first to take into account early revenue from its recent deal with Netflix to license and distribute older CBS shows like Cheers and Frasier. In a conference call, CBS chief Les Moonves expressed confidence that similar with digital customers are likely to come about. "New entrants are coming into the market all the time," he said. CBS does not put its current shows online.