Amid mounting advertising pain in the TV business, CBS took a $12.5 billion third-quarter loss yesterday, and Disney is reportedly preparing cost-cutting measures that could include job cuts.

CBS’ loss came after it took a $14.1 billion charge to reflect the lower value of advertising-supported media assets.  According to the Los Angeles Times, Disney executives have been meeting this week to prepare belt-tightening measures.

The news comes two weeks after NBC Universal said it would cut $500 million in spending, or 3% of its budget, because of “unprecedented economic challenges.”

Posted under Michael's Blog