CBS starts two new units |
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Tue, 16 Jan 2007 21:37
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NEW YORK (AFX) - Broadcaster CBS Corp. said Tuesday it set up two new units to help generate licensing revenue and to promote DVD sales.The company named Elizabeth Kalodner to head licensing and merchandise unit CBS Consumer Products. Ken Ross will lead the CBS Home Entertainment unit, responsible for DVD sales.CBS plans to increase the number of DVD releases in 2007 by 20 percent. The company said it can draw on titles from the CBS library of shows, which includes Showtime Video releases.'DVD sales for television series continue to grow, and a dedicated unit in this area puts us in a better position to exploit more of the vast programming assets in this company, to focus on worldwide distribution opportunities, and to grow our revenue even further,' CBS said in a statement.DVD sales of movies and television shows have turned into a major revenue stream for many content producers, although sales growth rates have slowed in recent quarters.The consumer products unit will handle CBS' retail business, including theme parks, touring shows, video toys, gifts and apparel.CBS shares fell 12 cents to $31.51 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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