Network Profits Increase: All three television networks...

Network Profits Increase: All three television networks posted modest to robust profit increases last year, according to estimates published by Broadcasting magazine. NBC network revenue declined 8% to $2.78 billion, principally due to lack of Olympic advertising it had in 1988, while operating profit rose 35% to $393 million. Capital Cities/ABC network TV revenue rose 1% to $2.42 billion while profit, after accounting adjustments, came in at $165 million. Even third-place CBS earned an estimated profit of $103.5 million on revenue of $2.31 billion, thanks largely to cost-cutting moves and a strong advertising market. But the big earners continued to be the TV station divisions, which earned $410 million for Cap Cities, $156.3 million for CBS and $270 million for NBC.