Date: 12th October 2000

The Axe To Fall At CBS, Paramount TV Stations

In anticipation of a downturn in ad revenue during the fourth quarter, Viacom has told its 35 CBS and Paramount stations to slash operating budgets by 10 percent, the Hollywood Reporter reported today (Thursday) without citing sources.

A sharp downturn in ad spending by Internet sites is said to be affecting the bottom line of all broadcasters, analysts have noted.

Source: Studio Briefing