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BCFM: 'Big Three' in revenue slump

The Broadcast Cable Financial Management Association reported Tuesday that
net revenues for the "Big Three" networks (ABC, CBS and NBC) were down almost 5
percent in the second quarter to $2.7 billion.

The drop is largely due to struggling ABC.

Just last week, The Walt Disney Co. reported a 16 percent decline in revenues for its
broadcast group for the quarter ended June 30.

Earlier, both Viacom Inc. and General Electric Co. reported second-quarter increases for their TV units (CBS and NBC, respectively).

For the first half of 2002, combined Big Three revenues were down less than a
half percentage point to $5.68 billion.

Prime time revenues are down 12 percent for the half (to $2.7 billion) but
only down 3 percent for the second quarter (to $1.56 billion).

The daytime, kids' and news sectors are all down double-digits for the second
quarter and through the first half of the year.

Late-night and early morning are down single-digits for both periods.

Sports is down slightly for the second quarter but up 41 percent through the
first half, almost entirely due to the Salt Lake City Winter Olympic Games.

The network revenue figures released by the BCFM are compiled by the
accounting firm of Ernst & Young LLP.