Profits tank at CBS, but its not because of the WGA strike

"When I look back over the various shows I have been involved in that have been hits, it hasn't been the most expensive shows that have hit it out of the ballpark, and there's some feeling that you don't need to spend $5 million on a pilot to know whether you have a potential hit series." -LES MOONVES BY SDH The first person Les Moonves probably called to tell that profits were off at CBS is his boss and media grandpa Sumner Redstone. And we're sure he made it clear to Sumner that the drop in profits had nothing to do with the recently ended WGA strike. Les Moonves says CBS's profit dropped 15% due to the recent sales of radio and TV stations, but at the same time the company still surpassed expectations. Even though the WGA strike may have cut into ad sales, Moonves insists, CBS was strike proof and like his counterpart Jeff Zucker, sees an opportunity to approach the TV business in a more low cost less glitz way.