CBS Inc.: The New York-based entertainment company...
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From Times Staff and Wire Reports
CBS Inc.: The New York-based entertainment company said net income in 1989 totaled $296 million, down 74% from 1988. The 1988 profit of $1.1 billion included a one-time gain of $867 million from the sale of CBS Records to Sony Corp. Revenue for 1989 totaled $2.96 billion, up 7%. Fourth-quarter profit rose 48% to $59.5 million, helped by television advertising gains.
