CBS quarterly earnings drop; tv, radio revenue off

(Reuters) - CBS, which runs the most-watched U.S. television network, reported second-quarter net earnings of $404 million, or 55 cents a share, compared with $781.7 million, or $1.02, a year earlier.




Year-ago earnings included income from discontinued operations of $291.9 million, reflecting a gain on the sale of its Paramount Parks. It also had a tax benefit.


Read more at Reuters.com Business News

Brad Pitt, Angelina Jolie Movie Revenue to Back Paramount Filmmaking Fund

(Bloomberg) -- Paramount Vantage, a unit of Viacom
Inc.'s Paramount Pictures Corp., is seeking investors for a $150
million fund to help finance movies including Babel, starring
Brad Pitt, and A Mighty Heart featuring Angelina Jolie.

The fund will pay investors a return from revenue such as
box office receipts, merchandising and pay-TV contracts generated
from films made or distributed by Los Angeles-based Paramount
Vantage over the next two years, according to a person familiar
with the deal. Morgan Stanley will arrange sales of bonds or
loans to finance the fund, the person said, who declined to be
identified because the deal is private.


Read more at Bloomberg Bonds News