CBS Corp. (CBS:US)’s broadcast network has almost completed negotiations for prime-time advertising commitments totaling about $2.7 billion for the coming TV season, said a person with knowledge of the situation.
The network’s ad rates are 7.5 percent to 8.5 percent higher than a year earlier, said the person, who requested anonymity because the talks are private. CBS is targeting advance commitments for 70 percent to 80 percent of its ad inventory in the TV season that begins in September, the person said.
Dana McClintock, spokesman for New York-based CBS, declined to comment.
The New York Times reported on the status of CBS negotiations earlier.
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