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Television program licensing pushes up CBS revenue

(Reuters) - CBS Corp, owner of the most-watched U.S. television network, reported a 2 percent rise in quarterly revenue, driven by higher distribution revenue from licensing its television shows.
/ Source: Reuters

(Reuters) - CBS Corp, owner of the most-watched U.S. television network, reported a 2 percent rise in quarterly revenue, driven by higher distribution revenue from licensing its television shows.

However, net income from continuing operations slid to $72 million, or 13 cents per share, in the third quarter ended Sept 30, from $431 million, or 70 cents per share, a year earlier.

The company's cost rose as it spent more on television programing, including NFL games.

Revenue rose to $3.37 billion from $3.30 billion.

(Reporting By Lehar Maan in Bangalore; Editing by Joyjeet Das)