CBS Stock Drops 17 Percent On Auto Advertising Concerns

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CBS's stock price dropped 17 percent  today. According to Deadline Hollywood'sNicki Finke, the drop came after "UBS downgrade of the media stock from neutral to sell because so much of the company's revenues are generated through auto advertising (65%), including local ads which are also dominated by car commercials."

This news leads me to wonder, could the troubles of the auto industry have played a role in Barbara Bloom's decision to develop a less expensive alternative for the Guiding Light time slot, as reported by in the TV Week article? Might this be a factor in why Ellen Wheeler was allegedly blindsided by that same article?