Leslie Moonves

CBS reports quarterly loss following pension settlement

CBS reports quarterly loss following pension settlement

CBS Corp. beat Wall Street expectations for its fourth quarter results as the big broadcaster begins to unwind its radio station business — a divestiture that will make the company less reliant on advertising revenue. 

“We turned in another great quarter and another terrific year at the CBS Corp.,” CBS Chief Executive Leslie Moonves told analysts during a Wednesday afternoon conference call. “We feel very secure in who we are.”

CBS owns the nation’s most-watched TV network, with such shows as “60 Minutes,” “NCIS” and “The Big Bang Theory.” The CBS All Access subscription streaming service — a bid to attract consumers who do not want...

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