• L.A. Times, Friday, September 16, 2011 4:45 PM

CBS -- criticized by investors in the past for "its heavy reliance on advertising revenue compared to other media giants that also have stakes in subscription businesses such as cable television" is diversifying its revenue stream, writes Joe Flint.

CBS Chief Executive Leslie Moonves told a media conference that advertising "accounts for about 64% of the company's revenue, down 8% from just a few years ago," according to Flint.

The switch is pegged to retransmission consent fees, along with "strong sales of [CBS] content both abroad and to new platforms, including Netflix and Amazon."

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