NEW YORK (Reuters) – CBS became the second major broadcast network to lock up its TV advertising for the 2010-2011 prime time season, joining Fox in landing higher prices and selling more commercial spots than last year.
In a statement on Tuesday, the network behind "How I Met Your Mother" and "CSI: Crime Scene Investigation" said it had concluded the sales just three weeks after introducing its fall TV schedule at its annual "upfront" presentation.
The commercial deals reflect "rate increases and total volume commensurate with our number one standing in the marketplace," CBS said in a statement. But declined to provide further details in a telephone call.
CBS booked sales that were around 17 percent to 18 percent higher than last year, a source close to negotiations said.
In the depressed market for television advertising of 2009-2010, CBS was reported to have sold between $1.9 billion and $2.2 billion, suggesting it negotiated between $2.5 billion to $2.6 billion this year.
Both CBS and News Corp's Fox, which finished its negotiations with advertisers last week, have won price increases about 8 percent to 9 percent above those from last year, according to sources.
Meanwhile, Walt Disney's ABC and General Electric Co's NBC are reportedly still wrapping up deals. But both are far ahead of where they stood in discussions a year ago, when talks with advertisers stretched into August.
The networks unveiled prime time programing in mid-May as part of the upfronts, the annual period when broadcasters hope to sell the majority of the upcoming TV season's commercial time to advertisers.
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