(Reuters) - CBS Corp suffered no financial impact from the month-long blackout of its broadcast channel in New York, Los Angeles and Dallas during its stalemate with Time Warner Cable in a rate dispute, according to CBS Chief Executive Leslie Moonves.
The top-rated broadcast network was not forced to give advertisers “make goods,” or compensation when a network misses its promised ratings, Moonves said on Wednesday at a Bank of America Merrill Lynch conference.
“You will see at our third-quarter earnings there was no harm done financially to CBS Corp from this,” Moonves said.
Analysts had speculated that the blackout, which affected more than 3 million Time Warner Cable subscribers, would have impacted advertising revenues for the network.
CBS shares rose 0.7 pct to $54.46 in afternoon trading on the New York Stock Exchange.
Reporting by Lisa Richwine; Editing by Richard Chang