CBS denies report of news division losing $50 million a year, insists it is profitable
Fox News
CBS is disputing a report that its news division suffers $50 million annual losses, with a spokesperson insisting the division is currently “profitable."
Brian Flood is a media editor/reporter for FOX News Digital. Story tips can be sent to brian.flood@fox.com and on Twitter: @briansflood.
Puck News reported on Wednesday that CBS News is losing "around $50 million a year," citing "two sources familiar with the news division’s finances." The claim came just weeks after reports that CBS’ "The Late Show with Stephen Colbert" was losing $40 million a year amid its announced cancellation.
However, Puck’s Dylan Byers took to social media on Thursday with an update, noting CBS pushed back and suggesting the discrepancy stems from "nuances in the accounting that deserve further exploration."
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