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International Entertainment News

Wednesday, July 31, 2013

DreamWorks Animation Taps Former Top Nick Exec Marjorie Cohn To Spearhead Studio's Television Efforts

DreamWorks Animation Taps Former Top Nick Exec Marjorie Cohn To Spearhead Studio's Television Efforts

Industry Vet Mark Taylor and DWA Exec Peter Gal Round Out New TV Leadership Team Charged with Delivering 1200 Episodes of Original Programming













GLENDALE, Calif., July 31, 2013 /PRNewswire/ -- DreamWorks Animation (Nasdaq: DWA) has named children's programming leader and former Nickelodeon executive Marjorie Cohn as its first-ever Head of Television, overseeing the production and development for DreamWorks Animation's television efforts. A 26-year veteran of Nickelodeon, Cohn most recently held the role of President, Content Development, completing a Nickelodeon tenure during which she was engaged in the development, creation and production of some of the most successful children's programs in television history including SpongeBob Squarepants, Rugrats, iCarly, and the Kids' Choice Awards. With Cohn's contributions, Nickelodeon grew to be the number one cable broadcaster in the world.

(Photo: http://photos.prnewswire.com/prnh/20130731/LA56774)

Cohn's arrival at DreamWorks Animation provides experienced leadership as the studio significantly expands its television efforts. The studio's TV efforts have seen substantial growth in the past year, beginning with the 2012 acquisition of Classic Media's extensive property portfolio, followed by landmark production and distribution agreements with Netflix and Germany's Super RTL earlier this year. As a result, Cohn and her team will be responsible for the development and production of 1200 new original episodes over the next five years. This production slate will feature TV series that are based on DreamWorks' current franchises, future films and the most popular heritage properties from Classic Media.

"Having Margie join us to oversee our television efforts is an incredible coup for DreamWorks Animation. She is uniquely suited with the experience, skill and creativity to immediately dive in and oversee our aggressive expansion into this space," said DreamWorks Animation Chief Operating Officer Ann Daly. "Margie has tremendous instincts when it comes to kids' programming, and we can't wait to unleash her creative force on DreamWorks' vast IP to bring exciting new content to families across the world."

Joining Cohn as Head of Television Production is TV veteran Mark Taylor, who was most recently at the helm of Nickelodeon Animation Studio, which he built and grew throughout his tenure. While at Nick, Taylor served as Senior Vice President and General Manager and was responsible for all of the network's in-house animation productions. Cohn and Taylor worked together for 15 years at Nickelodeon, during which time the network produced massive hits including SpongeBob, Jimmy Neutron, Boy Genius,Fairly Odd Parents, Hey Arnold and Avatar: The Last Airbender.

Peter Gal, the DreamWorks Animation executive who oversees creative on DreamWorks Dragons: Riders of Berk and Turbo F.A.S.T., rounds out the new leadership group as Head of Television Development. Prior to three years as Vice President of Production at 20th Century Fox, Gal spent five years at Nickelodeon, developing animated programming including the DreamWorks Animation-inspired Penguins of Madagascar, which has won multiple Emmy Awards for Outstanding Children's Programming.

Together, this team is uniquely positioned to leverage the DreamWorks Animation portfolio and elevate its television efforts on a global scale.

About DreamWorks Animation

DreamWorks Animation (Nasdaq: DWA) creates high-quality entertainment, including CG animated feature films, television specials and series and live entertainment properties, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE® Magazine for five consecutive years. In 2013, DreamWorks Animation ranks #12 on the list. All of DreamWorks Animation's feature films are produced in 3D. The Company has theatrically released a total of 27 animated feature films, including the franchise properties of Shrek, Madagascar, Kung Fu Panda, How to Train Your Dragon, Puss In Boots, and The Croods.



SOURCE DreamWorks Animation

Photo:http://photos.prnewswire.com/prnh/20130731/LA56774
http://photoarchive.ap.org/
DreamWorks Animation

CONTACT: Allison Rawlings, (818) 695-3278, allison.rawlings@dreamworks.com, or Matt Lifson, (818) 695-6576, matt.lifson@dreamworks.com, both of DreamWorks Animation


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Profile: intent

International Entertainment News

Jonathan Tisch Goes Inside New York's Famed Sporting And Fashion Events In A New Special Series Premiering On Bloomberg TV

Jonathan Tisch Goes Inside New York's Famed Sporting And Fashion Events In A New Special Series Premiering On Bloomberg TV

FRIDAY, AUGUST 2, 2013 (9:30-10:00 P.M., EDT)

An Insider's Look at the PGA Championship, U.S. Open Tennis, and New York Fashion Week sponsored by Mercedes-Benz

NEW YORK, July 31, 2013 /PRNewswire/ -- Jonathan Tisch hosts a three-part series highlighting three iconic New York events this summer: The PGA Championship, The U.S. Open and New York Fashion Week. Each half-hour show includes an all-access look at the preparation underway to launch this year's event as well as a look back at its history through the eyes of those who experienced it in any number of ways--as a participant, organizer, official or even a fan.

"New York is home to some of the world's most notable and exciting events," said host Jonathan Tisch about the concept behind his new series. "We want to give viewers an inside look into the making of some of the greatest golf, best tennis and most fashionable runways, as well as demonstrate why these events are so important to New York and beyond."

The special series will be broadcast leading up to the actual events themselves. The first episode, INSIDE THE PGA CHAMPIONSHIP WITH JONATHAN TISCH, airs August 2-4 and August 9-11, followed by INSIDE THE U.S. OPEN WITH JONATHAN TISCH airing August 16-18 and August 23-25 and third, INSIDE FASHION WEEK WITH JONATHAN TISCH airs August 30-September 1 and September 6-8 on Bloomberg Television worldwide.

INSIDE THE PGA CHAMPIONSHIP WITH JONATHAN TISCH, INSIDE THE U.S. OPENWITH JONATHAN TISCH and INSIDE FASHION WEEK WITH JONATHAN TISCH are produced by Walnut Hill Media in association with Matador Content and Moonshot Productions.

ABOUT JONATHAN TISCH

Jonathan Tisch is Co-Chairman of the Board and a member of the Office of the President of Loews Corporation, one of the largest diversified financial holding companies in the U.S., and is also Chairmanof its subsidiary, Loews Hotels. Tisch is the author of three bestselling books, The Power of We: Succeeding Through Partnerships; Chocolates on the Pillow Aren't Enough: Reinventing the Customer Experience; and Citizen You: Doing Your Part to Change the World and is also the host of the Emmy-nominated television series, Beyond the Boardroomwith Jonathan Tisch, where he speaks with some of America's preeminent CEOs and business luminaries in one-on-one interviews.

Press Contact:
Jen Farley
212-521-2812

SOURCE Walnut Hill Media

Walnut Hill Media

Web Site: http://www.walnuthillmedia.com


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Profile: intent

International Entertainment News

Teen Cancer America Is The Official Charity Of The 2013 Young Hollywood Awards

Teen Cancer America Is The Official Charity Of The 2013 Young Hollywood Awards

AWARD SHOW TO AIR THURSDAY, AUGUST 1 FROM 8 - 10 ET/PT ON THE CW NETWORK

LOS ANGELES, July 31, 2013 /PRNewswire/ -- The 2013 Young Hollywood Awards, which celebrates the best emerging young talent in film, music and television, has announced that Teen Cancer America is its official charity. Teen Cancer America assists hospitals nationwide in the development of cancer units designed to give patients ages 13-24 positive physical and emotional outlooks. Cody Simpson, along with Olympic skating gold medalist Tara Lipinski, are two of Teen Cancer America's celebrity ambassadors and are participating in the Awards show, which will air on Thursday, August 1 from 8 - 10 p.m. ET/PT on the CW Network and will emanate from the Broad Stage in Santa Monica, CA.

Aisha Tyler ("Whose Line Is it Anyway?" "The Talk") is the host of the 2013 Young Hollywood Awards. Previously announced honorees for the star-studded red carpet awards include Dave Franco ("Now You See Me"), recording artist and actress Selena Gomez, rising singer-songwriter Austin Mahone and pop sensation Cody Simpson, who will also perform on the telecast. Also, announced presenters for this year's show include appearances by Nat Faxon ("The Way, Way Back"), Derek Hough ("Dancing with the Stars"), Alyssa Milano ("Mistresses"), Ian Somerhalder ("The Vampire Diaries") and Aimee Teegarden ("Aim High").

In 2012, Roger Daltrey and Pete Townshend launched "Teen Cancer America"
(www.teencanceramerica.org) to improve the quality of life for teens and young adults with cancer by partnering with hospitals to create facilities, develop support programs and raise awareness during treatment. Teen Cancer America is building on over 22 years of experience from the renowned UK charity, Teenage Cancer Trust (www.teenagecancertrust.org). Young people with cancer are traditionally treated alongside children or adult patients causing young people to feel extremely isolated during treatment. There is a significant difference in the patient's experience when they are treated alongside others their own age. In addition to state-of-the-art facilities to keep patients occupied during long stays in the hospital, the units strive to provide an environment where teenage patients can meet others in a similar situation, helping to support their transition. With over 70,000 adolescent young adults being diagnosed with cancer each year in the US, the medical community understands why the work that Teen Cancer America aims to do is so important. Cody Simpson visited Teen Cancer America's first US facility at UCLA this year and signed on to be a celebrity ambassador. Cody is receiving the 2013 Young Hollywood Award "Role Model Award" on the August 1 show which will be presented to him by Tara Lipinski.

"Teenagers are not children, they are not adults - if they are unfortunate enough to get cancer, they tend to suffer some of the most aggressive cancers. It is the quality of life that we should be worrying about - not just the cure," commented Roger Daltrey.

"Cancer is a horrible disease that will touch nearly everyone in their lifetime, whether it is witnessing a friend or loved one fight the battle or actually fighting it themselves. I have personally watched people close to me embark on this difficult fight and it has affected me profoundly. What Teen Cancer aims to do is bring teens together so they don't have to fight alone. It's a privilege to be a part of this organization," commented Cody Simpson.

Since its inception, the Young Hollywood Awards has served as a launch pad for the future careers of many of today's top actors, directors and entertainers. The list of previous Young Hollywood Awards recipients and presenters include names such as Scarlett Johansson, Armie Hammer, Kristen Stewart, Taylor Swift, Ryan Gosling, Zac Efron, Justin Bieber, Jake Gyllenhaal, Dakota Fanning, Jessica Alba, Liam Hemsworth, Ashley Greene, Emma Stone, Nick Jonas, Mila Kunis and Shia LaBeouf, among many others. For additional information, visit www.yhawards.com.

Press Contacts:
For Teen Cancer America: Rogers & Cowan
Maureen O'Connor, moconnor@rogersandcowan.com or 310-854-8116
Eileen Thompson-Ray, eithompsonray@rogersandcowan.com or 310-854-8137

For Young Hollywood Awards: PMK-BNC
Joanna Cichocki, Joanna.cichocki@pmkbnc.com or 310-854-4800
Brian Rubin, brian.rubin@pmkbnc.com or 310-854-4800
Christina Canseco, christina.canseco@pmkbnc.com or 310-854-4800

SOURCE Teen Cancer America

Teen Cancer America

Web Site: http://www.teencanceramerica.org


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Profile: intent

International Entertainment News

Brazil's SIM TV Selects Amdocs to Expand into Next-Generation Digital Products and Services

Brazil's SIM TV Selects Amdocs to Expand into Next-Generation Digital Products and Services

Amdocs CES Multi-Play Smart Pack solution will shorten time to market for new offerings and support SIM TV's expansion into new lines of business

ST. LOUIS, July 31, 2013 /PRNewswire/ -- Amdocs (NYSE: DOX), the leading provider of customer experience systems and services, today announced that SIM TV, a leading broadband and cable TV provider in Brazil, has selected Amdocs CES Multi-Play Smart Pack. This pre-integrated customer care and billing solution for cable operators with convergent offerings will enable SIM TV to shorten the time to market for new offerings by enhancing its capabilities to create and support the next generation of digital broadband and Pay TV products and services.

(Logo: http://photos.prnewswire.com/prnh/20120722/NY44154LOGO )

"As we seek to expand our existing TV services and move into new lines of business, we need a solution that provides excellent customer care while enabling product innovation and fast time to market for future services," said Marcio Zukin, director of operations at SIM TV. "Amdocs Multi-Play Smart Pack gives us an end-to-end customer care and billing solution with the ability to manage all our lines of business, including Pay TV and broadband Internet, and easily add new ones."

With superior customer service as one of its top priorities, SIM TV will benefit from Smart Pack's new Smart Client Framework feature, which gives customer service representatives a 360-degree view of the customer and a single order management solution across all lines of business - enabling them to handle calls quicker and more efficiently, while reducing revenue leakage. Automated promotions, another new Smart Pack feature, will provide SIM's customers with pricing that is most suitable to their profiles; as a result, account handling becomes less prone to operator error.

"As SIM TV transitions from a traditional Pay TV market to one in which they deliver broadband Internet and other digital services, they need a convergent system to support their customers today and in the future," said Rebecca Prudhomme, vice president for product and solutions marketing at Amdocs. "With its advanced customer management and order management capabilities, Amdocs Multi-Play Smart Pack gives SIM the power to provide seamless support to its existing customer base today, while enabling it to expand into new services and markets."

Supporting Resources


-- Learn more about Amdocs CES Multi-Play Smart Pack
-- Learn more about Amdocs CES 9 solutions
-- Keep up with Amdocs news by visiting the company's website
-- Subscribe to Amdocs' RSS Feed and follow us on Twitter, Facebook,
Google+, LinkedIn and YouTube
About SIM TV
SIM TV was formed in January 2011 from a merger of companies belonging to Televisao Cidade. Its services are provided in Niteroi, Sao Goncalo, Volta Redonda, Gravatai, Salvador, Recife, Olinda, Paulista, Jaboatao Guararapes, Aracaju, Cuiaba, Juiz de Fora and Feira de Santana. SIM TV offers a very high degree of development and technical quality of projects for telecom operators, using a network consisting of fully optical fiber that enables communication companies for voice, video, images and audio using standard digital SDH, PDH and Ethernet.

About Amdocs
For more than 30 years, Amdocs has ensured service providers' success and embraced their biggest challenges. To win in the connected world, service providers rely on Amdocs to simplify the customer experience, harness the data explosion, stay ahead with new services and improve operational efficiency. The global company uniquely combines a market-leading BSS, OSS and network control product portfolio with value-driven professional services and managed services operations. With revenue of $3.2 billion in fiscal 2012, Amdocs and its 20,000 employees serve customers in more than 60 countries.

Amdocs: Embrace Challenge, Experience Success.

For more information, visit Amdocs at www.amdocs.com

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2012 filed on December 11, 2012 and our quarterly 6-K forms furnished on February 12 and May 16, 2013.

SOURCE Amdocs

Photo:http://photos.prnewswire.com/prnh/20120722/NY44154LOGO
http://photoarchive.ap.org/
Amdocs

CONTACT: Sara Preto, Fusion PR for Amdocs, Tel: +1-212-651-4214, E-Mail: sara.preto@fusionpr.com

Web Site: http://www.amdocs.com


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Profile: intent

International Entertainment News

CBS Corporation Reports Second Quarter 2013 Results

CBS Corporation Reports Second Quarter 2013 Results

Revenues of $3.7 Billion, Up 11%

OIBDA of $952 Million, Up 5%

Operating Income of $838 Million, Up 6%

Diluted EPS of $.76, Up 12%

NEW YORK, July 31, 2013 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported its highest ever quarterly profits for the second quarter ended June 30, 2013.

"CBS's remarkable momentum continues to build," said Sumner Redstone, Executive Chairman, CBS Corporation. "This is a Company built for long-term success, and I know Les and his team will continue to execute in the quarters and years to come."

"Double-digit revenue growth--and the best quarterly profits we've ever had--add up to a phenomenal quarter for CBS," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "Across the board, CBS's world-class content continues to drive our results. From Under the Dome, which is changing the face of summer programming on network television, to Ray Donovan, which has refilled the pipeline at Showtime in a big way, new owned content continues to flourish throughout our Company. As a result, our base business is thriving, and our non-advertising revenue sources are having a bigger impact on our results all the time. Looking ahead, the opportunities to monetize our content are more exciting than ever. In addition, we are well on our way to completing our strategic initiatives in our Outdoor segment--including the pending sale of our business in Europe and Asia and the separation of our Outdoor Americas business, which is right on track. All of this gives us great confidence in our future, and it's why we announced last week our largest increase ever to our share repurchase program. We remain committed to returning value to our shareholders, and we are certain we can deliver lucrative results for the remainder of this year, next year, and beyond as well."

Second Quarter 2013 Results
Revenues of $3.70 billion for the second quarter of 2013 grew 11% from $3.33 billion in the same prior-year period, with increases in each revenue type. The growth was led by a 22% increase in content licensing and distribution revenues, which was driven by licensing agreements for digital streaming and international syndication. Advertising revenues were up 5%, partly from the timing of the semifinals of the NCAA Division I Men's Basketball Championship ("NCAA Tournament"), which aired during the second quarter in 2013 versus the first quarter in 2012, as well as increases in underlying network advertising. Affiliate and subscription fee revenues rose 18%, reflecting the impact of a pay-per-view boxing event, and growth from retransmission revenues and fees from CBS Television Network affiliated television stations.

Operating income before depreciation and amortization ("OIBDA") of $952 million increased 5% in the second quarter of 2013 from $911 million for the same prior-year period, with growth in every operating segment. Operating income of $838 million increased 6% from $792 million in the second quarter of 2012. The OIBDA and operating income growth was primarily driven by the higher revenues, which were partially offset by increased investment in television content and higher sports programming costs from the timing of the semifinals of the NCAA Tournament.

Net earnings from continuing operations were $476 million for the second quarter of 2013, up from $452 million for the same prior-year period. Diluted earnings per share from continuing operations increased 12% to $.76 from $.68 for the second quarter of 2012, reflecting the Company's operating income growth, lower interest expense from the Company's 2012 debt refinancing activities, and lower weighted average shares outstanding as a result of the Company's ongoing share repurchase program.

Reconciliations of non-GAAP measures to reported results are included at the end of this earnings release.



Free Cash Flow, Balance Sheet and Liquidity
During the second quarter of 2013, the Company made discretionary pension contributions of $150 million to prefund its qualified plans. Free cash flow for the quarter, which includes these contributions, was $414 million compared with $564 million for the same prior-year period. For the first half of 2013, free cash flow was $990 million compared with $1.18 billion for the first half of 2012. The Company generated operating cash flow from continuing operations of $1.07 billion for the six months ended June 30, 2013, versus $1.27 billion for the comparable prior-year period.

Also during the second quarter of 2013, the Company repurchased 10.4 million shares of CBS Corp. Class B Common Stock, including 6.1 million shares that were repurchased on the open market for $296 million and 4.3 million shares that were delivered upon the settlement of the accelerated share repurchase transaction that was initiated during the first quarter of 2013. On July 25, 2013, the Company announced that it expanded its share repurchase program to a total availability of $6 billion, an increase of $5.1 billion. Since the share repurchase program was initiated in January 2011, through June 30, 2013, the Company has repurchased 112.2 million shares of its Class B Common Stock for $3.75 billion.

At June 30, 2013, the Company's debt outstanding was $6.42 billion, and its cash on hand was $282 million.

Consolidated and Segment Results (dollars in millions)
The tables below present the Company's revenues by segment and type as well as its segment operating income (loss) before depreciation and amortization, restructuring charges and impairment charges ("Segment OIBDA") and operating income (loss) by segment for the three and six months ended June 30, 2013, and 2012. Reconciliations of all non-GAAP measures to reported results are included at the end of this earnings release.







Three Months Six Months
Ended Ended

June 30, June 30,

Revenues by
Segment 2013 2012 2013 2012
----------- ---- ---- ---- ----

Entertainment $2,008 $1,707 $4,547 $4,025

Cable Networks 518 446 996 898

Publishing 189 189 360 365
---------- --- --- --- ---

Content Group 2,715 2,342 5,903 5,288

Local
Broadcasting 698 704 1,336 1,326

Outdoor Americas 335 334 616 622
----------- --- --- --- ---

Local Group 1,033 1,038 1,952 1,948

Eliminations (49) (51) (116) (111)
----------- --- --- ---- ----

Total
Revenues $3,699 $3,329 $7,739 $7,125
--------- ------ ------ ------ ------


Three Months Six Months
Ended Ended

June 30, June 30,

Revenues by Type 2013 2012 2013 2012
------------ ---- ---- ---- ----

Advertising $2,090 $1,995 $4,545 $4,265

Content
licensing and
distribution 997 816 2,005 1,833

Affiliate and
subscription
fees 549 465 1,068 920

Other 63 53 121 107
----- --- --- --- ---

Total
Revenues $3,699 $3,329 $7,739 $7,125
--------- ------ ------ ------ ------


Three Months Six Months
Ended Ended

June 30, June 30,

Segment OIBDA 2013 2012 2013 2012
------------ ---- ---- ---- ----

Entertainment $429 $426 $909 $837

Cable Networks 207 190 438 399

Publishing 21 9 33 19
---------- --- --- --- ---

Content Group 657 625 1,380 1,255

Local
Broadcasting 255 248 454 419

Outdoor Americas 107 103 181 179
----------- --- --- --- ---

Local Group 362 351 635 598

Corporate (67) (65) (147) (135)
--------- --- --- ---- ----

Adjusted OIBDA 952 911 1,868 1,718

Impairment
charges - - - (11)
---------- --- --- --- ---

Total OIBDA $952 $911 $1,868 $1,707
----------- ---- ---- ------ ------


Three Months Six Months
Ended Ended

June 30, June 30,

Operating Income
(Loss) 2013 2012 2013 2012
---------------- ---- ---- ---- ----

Entertainment $391 $385 $831 $755

Cable Networks 202 184 429 388

Publishing 20 7 30 15
---------- --- --- --- ---

Content Group 613 576 1,290 1,158

Local
Broadcasting 234 225 410 363

Outdoor Americas 65 62 97 95
----------- --- --- --- ---

Local Group 299 287 507 458

Corporate (74) (71) (159) (147)
--------- --- --- ---- ----

Total
Operating
Income $838 $792 $1,638 $1,469
---------- ---- ---- ------ ------



Entertainment(CBS Television Network, CBS Television Studios, CBS Global Distribution Group, CBS Films, and CBS Interactive)
Entertainment revenues of $2.01 billion for the second quarter of 2013 increased 18% from $1.71 billion for the same prior-year period. This increase was driven by higher revenues from the licensing of television programming for digital streaming and international syndication, higher advertising revenues, and growth in network affiliation fees. The increase in advertising revenue reflects 11% growth at the CBS Television Network and increases at CBS Interactive. The timing of the semifinals of the NCAA Tournament contributed seven percentage points to the CBS Television Network's advertising growth.

Entertainment OIBDA for the second quarter of 2013 of $429 million increased 1% from $426 million for the same prior-year period, as the revenue growth was offset by increased investment in television content and higher sports programming costs from the timing of the semifinals of the NCAA Tournament.

Cable Networks (Showtime Networks, CBS Sports Network, and Smithsonian Networks)
Cable Networks revenues for the second quarter of 2013 increased 16% to $518 million from $446 million for the same prior-year period. The growth was driven by revenues from a pay-per-view boxing event, higher revenues from the licensing of Showtime original series for digital streaming, and higher affiliate revenues. The increase in affiliate revenues reflects growth in rates and subscriptions at Showtime Networks (which includes Showtime, The Movie Channel, and Flix), CBS Sports Network, and Smithsonian Networks.

Cable Networks OIBDA for the second quarter of 2013 increased 9% to $207 million from $190 million for the same prior-year period, primarily a result of the revenue growth. The OIBDA increase was partially offset by higher sports programming costs, including the pay-per-view boxing event, as well as higher advertising and marketing costs to promote Showtime series.

Publishing (Simon & Schuster)
Publishing revenues of $189 million for the second quarter of 2013 were comparable with the same prior-year period, as continued growth in digital book sales was offset by lower print book sales. Digital book sales increased 39% from the same prior-year period and represented 29% of Publishing's total revenues, compared with 21% for the second quarter of 2012. Best-selling titles in the second quarter included Happy, Happy, Happy by Phil Robertson and City of Bones by Cassandra Clare.

Publishing OIBDA for the second quarter of 2013 increased $12 million to $21 million from $9 million for the same prior-year period, as the more profitable digital book sales continued to grow and last year's second quarter included a charge related to a legal matter.

Local Broadcasting (CBS Television Stations and CBS Radio)
Local Broadcasting revenues for the second quarter of 2013 decreased 1% to $698 million from $704 million for the same prior-year period. CBS Television Stations revenues decreased 1%, primarily reflecting lower political advertising. CBS Radio revenues remained flat compared with the same prior-year period, as the benefit of the new CBS Sports Radio network was offset by the impact of radio station dispositions in 2012.

Local Broadcasting OIBDA for the second quarter of 2013 increased 3% to $255 million from $248 million for the same prior-year period, principally because of lower programming and production costs.

Outdoor Americas (CBS Outdoor)
Outdoor Americas revenues for the second quarter of 2013 increased slightly to $335 million from $334 million for the same prior-year period, as growth in the U.S. was offset by lower revenues in Canada and Mexico. Revenues in the U.S. grew 2%, driven by a 5% increase in the billboard business.

Outdoor Americas OIBDA for the second quarter of 2013 rose 4% to $107 million from $103 million for the same prior-year period. The increase was driven by the revenue growth and lower costs associated with the renewal of a transit contract.

Corporate
Corporate expenses before depreciation for the second quarter of 2013 increased $2 million to $67 million from $65 million for the same prior-year period, reflecting higher costs associated with the increase in the Company's stock price and the conversion of Outdoor Americas to a Real Estate Investment Trust ("REIT"). These increases were partially offset by lower pension and postretirement benefit costs, primarily reflecting the benefit from prefunding pension plans in 2012 and the favorable performance of pension plan assets in 2012.

Outdoor Transactions
In July 2013, the Company entered into an agreement with an affiliate of Platinum Equity for the sale of the Company's outdoor advertising business in Europe and Asia for approximately $225 million. The transaction is expected to be completed during 2013, subject to customary closing conditions. The Company's outdoor business in Europe and Asia has been presented as a discontinued operation.

During the first quarter of 2013, the Company submitted a private letter ruling request with the Internal Revenue Service to qualify its Outdoor Americas business as a REIT. During the second quarter of 2013, a preliminary registration statement was filed with the Securities and Exchange Commission for the proposed initial public offering of the common stock of CBS Outdoor Americas Inc. The Company currently expects to dispose of the shares of CBS Outdoor Americas Inc. that it will own after the completion of the offering. These actions are subject to customary approvals and market conditions.

About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has businesses with origins that date back to the dawn of the broadcasting age as well as new ventures that operate on the leading edge of media. CBS owns the most-watched television network in the U.S. and one of the world's largest libraries of entertainment content, making its brand - "the Eye" - one of the most recognized in business. The Company's operations span virtually every field of media and entertainment, including cable, publishing, radio, local TV, film, outdoor advertising, and interactive and socially responsible media. CBS's businesses include CBS Television Network, The CW (a joint venture between CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, TVGN (a joint venture between CBS Corporation and Lionsgate), Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Global Distribution Group (CBS Studios International and CBS Television Distribution), CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.



Cautionary Statement Concerning Forward-Looking Statements
This news release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not based on historical facts, but rather reflect the Company's current expectations concerning future results and events. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: advertising market conditions generally; changes in the public acceptance of the Company's programming; changes in technology and its effect on competition in the Company's markets; changes in the Federal Communications laws and regulations; the impact of piracy on the Company's products; the impact of the consolidation in the market for the Company's programming; the impact of negotiations or the loss of affiliation agreements or retransmission agreements; the inability to obtain the requisite regulatory approvals and changes in legislation, tax rules or market conditions, which could adversely impact timing and the ability to consummate or achieve the benefits of transactions involving the Company's Outdoor business; the inability to complete the divestiture of the Company's Outdoor operations in Europe and Asia; other domestic and global economic, business, competitive and/or other regulatory factors affecting the Company's businesses generally; the impact of union activity, including possible strikes or work stoppages or the Company's inability to negotiate favorable terms for contract renewals; and other factors described in the Company's news releases and filings with the Securities and Exchange Commission including but not limited to the Company's most recent Form 10-K, Form 10-Qs and Form 8-Ks. The forward-looking statements included in this document are made only as of the date of this document, and under section 27A of the Securities Act and section 21E of the Exchange Act, we do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.







CBS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS
-------------------------------------

(Unaudited; in millions, except per share amounts)


Three Months Six Months
Ended Ended

June 30, June 30,

2013 2012 2013 2012
---- ---- ---- ----


Revenues $3,699 $3,329 $7,739 $7,125
-------- ------ ------ ------ ------


Operating income 838 792 1,638 1,469


Interest expense (93) (104) (188) (214)

Interest income 2 1 4 3

Gain on early extinguishment of debt - - - 25

Other items, net (7) 3 (9) 8
---------------- --- --- --- ---

Earnings from continuing operations before income taxes 740 692 1,445 1,291


Provision for income taxes (256) (228) (490) (429)

Equity in loss of investee companies, net of tax (8) (12) (16) (16)
------------------------------------------------ --- --- --- ---

Net earnings from continuing operations 476 452 939 846


Net loss from discontinued operations, net of tax (4) (25) (24) (56)
--- --- --- ---

Net earnings $472 $427 $915 $790
------------ ---- ---- ---- ----


Basic net earnings (loss) per common share:

Net earnings from continuing operations $.78 $.70 $1.53 $1.31

Net loss from discontinued operations $(.01) $(.04) $(.04) $(.09)

Net earnings $.78 $.66 $1.49 $1.22


Diluted net earnings (loss) per common share:

Net earnings from continuing operations $.76 $.68 $1.49 $1.27

Net loss from discontinued operations $(.01) $(.04) $(.04) $(.08)

Net earnings $.76 $.65 $1.45 $1.19


Weighted average number of common shares outstanding:

Basic 609 646 615 648

Diluted 624 661 631 664


Dividends per common share $.12 $.10 $.24 $.20
-------------------------- ---- ---- ---- ----






CBS CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
---------------------------

(Unaudited; in millions)



At At

June December
30, 31, 2012
2013
----- ---------


Assets


Cash and cash equivalents $282 $708

Receivables, net 2,998 3,137

Programming and other inventory 449 859

Prepaid expenses and other current
assets 1,041 1,016
---------------------------------- ----- -----

Total current assets 4,770 5,720
-------------------- ----- -----

Property and equipment 4,917 4,988

Less accumulated
depreciation and
amortization 2,689 2,717
----------------- ----- -----

Net property and equipment 2,228 2,271
-------------------------- ----- -----

Programming and other inventory 1,545 1,582

Goodwill 8,569 8,567

Intangible assets 6,480 6,515

Other assets 2,101 1,811
----- -----

Total Assets $25,693 $26,466
------------ ------- -------


Liabilities and Stockholders' Equity


Accounts payable $218 $386

Participants' share and royalties
payable 861 953

Program rights 400 455

Commercial paper 453 -

Current portion of long-term debt 21 18

Accrued expenses and other current
liabilities 1,872 2,129
---------------------------------- ----- -----

Total current liabilities 3,825 3,941
------------------------- ----- -----

Long-term debt 5,949 5,904

Other liabilities 6,318 6,408

Total Stockholders' Equity 9,601 10,213
-------------------------- ----- ------

Total Liabilities and
Stockholders' Equity $25,693 $26,466
--------------------- ------- -------






CBS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
-------------------------------------

(Unaudited; in millions)



Six Months
Ended

June 30,

2013 2012
---- ----


Operating Activities:

Net earnings $915 $790

Less: Net loss from discontinued operations (24) (56)
------------------------------------------- --- ---

Net earnings from continuing operations 939 846

Adjustments to reconcile net earnings from continuing operations

to net cash flow provided by operating activities:

Depreciation and amortization 230 238

Impairment charges - 11

Stock-based compensation 109 80

Redemption of debt - (25)

Equity in loss of investee companies, net of tax and distributions 24 19

Change in assets and liabilities, net of investing and financing activities (229) 99
--------------------------------------------------------------------------- ---- ---

Net cash flow provided by operating activities from continuing operations 1,073 1,268
------------------------------------------------------------------------- ----- -----

Net cash flow used for operating activities from discontinued operations (22) (10)
------------------------------------------------------------------------ --- ---

Net cash flow provided by operating activities 1,051 1,258
---------------------------------------------- ----- -----

Investing Activities:

Acquisitions, net of cash acquired (30) (69)

Capital expenditures (83) (84)

Investments in and advances to investee companies (139) (39)

Proceeds from sale of investments 18 6

Proceeds from dispositions 12 1
-------------------------- --- ---

Net cash flow used for investing activities from continuing operations (222) (185)
---------------------------------------------------------------------- ---- ----

Net cash flow used for investing activities from discontinued operations (8) (9)
------------------------------------------------------------------------ --- ---

Net cash flow used for investing activities (230) (194)
------------------------------------------- ---- ----

Financing Activities:

Proceeds from short-term debt borrowings, net 452 -

Proceeds from issuance of notes - 1,567

Repayment of notes - (700)

Payment of capital lease obligations (9) (10)

Payment of contingent consideration (30) (33)

Dividends (155) (135)

Purchase of Company common stock (1,579) (564)

Payment of payroll taxes in lieu of issuing shares for stock-based compensation (139) (105)

Proceeds from exercise of stock options 98 71

Excess tax benefit from stock-based compensation 119 73

Other financing activities (4) -
-------------------------- --- ---

Net cash flow (used for) provided by financing activities (1,247) 164
--------------------------------------------------------- ------ ---

Net (decrease) increase in cash and cash equivalents (426) 1,228

Cash and cash equivalents at beginning of period 708 660
------------------------------------------------ --- ---

Cash and cash equivalents at end of period $282 $1,888
------------------------------------------ ---- ------


CBS CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION
(Unaudited; in millions)

Segment Operating Income (Loss) Before Depreciation and Amortization ("OIBDA") and Adjusted OIBDA

The Company presents Segment OIBDA as the primary measure of profit and loss for its operating segments in accordance with FASB guidance for segment reporting.

The following tables set forth the Company's OIBDA for the three and six months ended June 30, 2013 and 2012 and adjusted OIBDA for the six months ended June 30, 2012. The Company defines OIBDA as net earnings (loss) adjusted to exclude the following line items presented in its Consolidated Statements of Operations: Net earnings (loss) from discontinued operations; Equity in earnings (loss) of investee companies, net of tax; Provision for income taxes; Other items, net; Gain on early extinguishment of debt; Interest income; Interest expense; and Depreciation and amortization. The Company defines "Adjusted OIBDA" as OIBDA excluding restructuring and impairment charges. For each individual operating segment, Adjusted OIBDA is also known as "Segment OIBDA".

The Company uses Adjusted OIBDA (or Segment OIBDA for each segment), as well as Adjusted OIBDA margin, to, among other things, evaluate the Company's operating performance, to value prospective acquisitions and as one of several components of incentive compensation targets for certain management personnel. These measures are among the primary measures used by management for planning and forecasting of future periods, and they are important indicators of the Company's operational strength and business performance because they provide a link between profitability and operating cash flow. The Company believes these measures are relevant and useful for investors because they allow investors to view performance in a manner similar to the method used by the Company's management, help improve investors' understanding of the Company's operating performance, and make it easier for investors to compare the Company's results with other companies that have different financing and capital structures or tax rates. In addition, these are among the primary measures used externally by the Company's investors, analysts and industry peers for purposes of valuation and for the comparison of the Company's operating performance to other companies in its industry.

Because Adjusted OIBDA is not a measure of performance calculated in accordance with accounting principles generally accepted in the United States ("GAAP"), it should not be considered in isolation of, or as a substitute for, net earnings (loss) as an indicator of operating performance. Adjusted OIBDA, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure does not necessarily represent funds available for discretionary use and is not necessarily a measure of the Company's ability to fund its cash needs. As Adjusted OIBDA excludes certain financial information that is included in net earnings (loss), the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are excluded. The Company provides the following reconciliations of Adjusted OIBDA to operating income and net earnings (loss), the most directly comparable amounts reported under GAAP. In addition, the following tables also provide reconciliations of Segment OIBDA for each segment to such segment's operating income (loss).






Three Months Ended June 30, 2013
--------------------------------

Depreciation Operating

OIBDA and Amortization Income (Loss)
----- ---------------- -------------

Entertainment $429 $(38) $391

Cable Networks 207 (5) 202

Publishing 21 (1) 20
---------- --- --- ---

Content Group 657 (44) 613

Local Broadcasting 255 (21) 234

Outdoor Americas 107 (42) 65
---------------- --- --- ---

Local Group 362 (63) 299

Corporate (67) (7) (74)
--- --- ---

Total $952 $(114) $838
----- ---- ----- ----

Margin (a) 26% 23%
--------- --- ---




Three Months Ended June 30, 2012
--------------------------------

Depreciation Operating

OIBDA and Amortization Income (Loss)
----- ---------------- -------------

Entertainment $426 $(41) $385

Cable Networks 190 (6) 184

Publishing 9 (2) 7
---------- --- --- ---

Content Group 625 (49) 576

Local Broadcasting 248 (23) 225

Outdoor Americas 103 (41) 62
---------------- --- --- ---

Local Group 351 (64) 287

Corporate (65) (6) (71)
--- --- ---

Total $911 $(119) $792
----- ---- ----- ----

Margin (a) 27% 24%
--------- --- ---







Three
Months
Ended June
30,

2013 2012
---- ----

Total OIBDA $952 $911

Depreciation and
amortization (114) (119)
---------------- ---- ----

Operating income 838 792

Interest expense (93) (104)

Interest income 2 1

Other items, net (7) 3
---------------- --- ---

Earnings from continuing
operations before income
taxes 740 692

Provision for income taxes (256) (228)

Equity in loss of investee
companies, net of tax (8) (12)
-------------------------- --- ---

Net earnings from
continuing operations 476 452

Net loss from discontinued
operations (4) (25)
-------------------------- --- ---

Net earnings $472 $427
------------ ---- ----



(a) Margin is
defined as OIBDA or
operating income, as
applicable, divided
by revenues.




Six Months Ended June 30, 2013
------------------------------

Depreciation Operating

OIBDA and Amortization Income
(Loss)
----- ---------------- -------

Entertainment $909 $(78) $831

Cable Networks 438 (9) 429

Publishing 33 (3) 30
---------- --- --- ---

Content Group 1,380 (90) 1,290

Local Broadcasting 454 (44) 410

Outdoor Americas 181 (84) 97
---------------- --- --- ---

Local Group 635 (128) 507

Corporate (147) (12) (159)
---- --- ----

Total $1,868 $(230) $1,638
----- ------ ----- ------

Margin (a) 24% 21%
--------- --- ---




Six Months Ended June 30, 2012
------------------------------

Adjusted Depreciation Impairment Operating

OIBDA and Amortization Charges Income
(Loss)
----- ---------------- ------- -------

Entertainment $837 $(82) $ - $755

Cable Networks 399 (11) - 388

Publishing 19 (4) - 15
---------- --- --- --- ---

Content Group 1,255 (97) - 1,158

Local Broadcasting 419 (45) (11) 363

Outdoor Americas 179 (84) - 95
---------------- --- --- --- ---

Local Group 598 (129) (11) 458

Corporate (135) (12) - (147)
---- --- --- ----

Total $1,718 $(238) $(11) $1,469
----- ------ ----- ---- ------

Margin (a) 24% 21%
--------- --- ---







Six Months
Ended June
30,

2013 2012
---- ----

Adjusted OIBDA $1,868 $1,718

Impairment charges - (11)
------------------ --- ---

Total OIBDA 1,868 1,707

Depreciation and amortization (230) (238)
----------------------------- ---- ----

Operating income 1,638 1,469

Interest expense (188) (214)

Interest income 4 3

Gain on early extinguishment of
debt - 25

Other items, net (9) 8
---------------- --- ---

Earnings from continuing
operations before income taxes 1,445 1,291

Provision for income taxes (490) (429)

Equity in loss of investee
companies, net of tax (16) (16)
-------------------------- --- ---

Net earnings from continuing
operations 939 846

Net loss from discontinued
operations (24) (56)
-------------------------- --- ---

Net earnings $915 $790
------------ ---- ----



(a) Margin is
defined as OIBDA,
Adjusted OIBDA or
operating income, as
applicable, divided
by revenues.
Free Cash Flow

The Company defines free cash flow as its net cash flow provided by (used for) operating activities before operating cash flow from discontinued operations and less capital expenditures. The Company's calculation of free cash flow includes capital expenditures because investment in capital expenditures is a use of cash that is directly related to the Company's operations. The Company's net cash flow provided by (used for) operating activities is the most directly comparable GAAP financial measure.

Management believes free cash flow provides investors with an important perspective on the cash available to the Company to service debt, make strategic acquisitions and investments, maintain its capital assets, satisfy its tax obligations, and fund ongoing operations and working capital needs. As a result, free cash flow is a significant measure of the Company's ability to generate long-term value. It is useful for investors to know whether this ability is being enhanced or degraded as a result of the Company's operating performance. The Company believes the presentation of free cash flow is relevant and useful for investors because it allows investors to evaluate the cash generated from the Company's underlying operations in a manner similar to the method used by management. Free cash flow is one of several components of incentive compensation targets for certain management personnel. In addition, free cash flow is a primary measure used externally by the Company's investors, analysts and industry peers for purposes of valuation and comparison of the Company's operating performance to other companies in its industry.

As free cash flow is not a measure calculated in accordance with GAAP, free cash flow should not be considered in isolation of, or as a substitute for, either net cash flow provided by (used for) operating activities as a measure of liquidity or net earnings (loss) as a measure of operating performance. Free cash flow, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, free cash flow as a measure of liquidity has certain limitations, does not necessarily represent funds available for discretionary use, and is not necessarily a measure of the Company's ability to fund its cash needs. When comparing free cash flow to net cash flow provided by (used for) operating activities, the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions that are not reflected in free cash flow.

The following table presents a reconciliation of the Company's net cash flow provided by operating activities to free cash flow.




Three Months Six Months
Ended Ended

June 30, June 30,

2013 2012 2013 2012
---- ---- ---- ----

Net cash flow provided by operating activities $464 $612 $1,051 $1,258

Capital expenditures (49) (49) (83) (84)

Exclude operating cash flow from discontinued operations 1 (1) (22) (10)
--- --- --- ---

Free cash flow $414 $564 $990 $1,184
-------------- ---- ---- ---- ------


The following table presents a summary of the Company's cash flows:


Three Months Six Months
Ended Ended

June 30, June 30,

2013 2012 2013 2012
---- ---- ---- ----

Net cash flow provided by operating activities $464 $612 $1,051 $1,258

Net cash flow used for investing activities $(176) $(54) $(230) $(194)

Net cash flow (used for) provided by financing activities $(415) $536 $(1,247) $164
--------------------------------------------------------- ----- ---- ------ ----







SOURCE CBS Corporation

CBS Corporation

CONTACT: Press: Gil Schwartz, Executive Vice President, Corporate Communications, (212) 975-2121, gdschwartz@cbs.com, or Dana McClintock, Executive Vice President of Communications, (212) 975-1077, dlmcclintock@cbs.com; or Investors: Adam Townsend, Executive Vice President, Investor Relations, (212) 975-5292, adam.townsend@cbs.com, or Jessica Kourakos, Vice President, Investor Relations, (212) 975-6106, jessica.kourakos@cbs.com

Web Site: http://www.cbscorporation.com


-------
Profile: intent

International Entertainment News

DreamWorks Animation Reports Second Quarter 2013 Financial Results

DreamWorks Animation Reports Second Quarter 2013 Financial Results

GLENDALE, Calif., July 31, 2013 /PRNewswire/ -- DreamWorks Animation SKG, Inc. (Nasdaq: DWA) today announced financial results for its second quarter ended June 30, 2013. For the quarter, the Company reported total revenue of $213.4 million, net income of $22.2 million, and earnings per share of $0.26 on a fully diluted basis. This compares to revenue of $162.8 million and net income of $12.8 million, or $0.15 per share on a fully diluted basis, for the same period in 2012.

"DreamWorks Animation significantly outperformed in the second quarter, thanks primarily to The Croods' incredibly successful box office run, where it has amassed $584 million worldwide to become the fifth highest grossing movie of the year," said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. "We also have a great deal of momentum within our television, consumer products and location-based entertainment businesses today, as DreamWorks Animation continues to diversify and evolve into a branded family entertainment company."

The Croods, released theatrically on March 22, 2013, has reached $186.4 million at the domestic box office and $397.5 million at the international box office for a worldwide gross of $583.9 million to date. The Croods contributed $71.8 million of revenue to the quarter.

Rise of the Guardians contributed $16.7 million of revenue to the quarter, primarily from home entertainment. The film reached an estimated 4.1 million home entertainment units sold worldwide through the end of the second quarter, net of actual and estimated future returns.

Madagascar 3: Europe's Most Wanted contributed $48.9 million of revenue to the quarter, primarily from worldwide pay television. The film reached an estimated 7.7 million home entertainment units sold worldwide through the end of the second quarter, net of actual and estimated future returns.

Puss In Boots contributed $1.4 million of revenue to the quarter, primarily from home entertainment. The film reached an estimated 7.2 million home entertainment units sold worldwide through the end of the second quarter, net of actual and estimated future returns.

Library contributed $41.3 million of revenue to the quarter. Other items, including results from AwesomenessTV and Oriental DreamWorks, contributed $24.3 million of revenue to the quarter. Classic Media contributed $9.0 million of revenue to the quarter.

Costs of revenue for the quarter equaled $133.3 million. Selling, general and administrative expenses totaled $49.7 million, including $5.6 million of stock-based compensation expense.

The Company's income tax expense for the second quarter was $10.1 million. The Company's combined effective tax rate - its actual tax rate coupled with the effect of its tax sharing agreement with a former stockholder - was approximately 32% for the second quarter. The Company currently expects that its full-year 2013 combined effective tax rate will be approximately 30%.

Year to date, the Company has repurchased 1.3 million shares for $25 million. The Company has $100 million remaining under its current authorization.

The Company's third quarter results are expected to be driven by worldwide pay television revenue for Rise of the Guardians and international free television for Kung Fu Panda 2.

Items related to the earnings press release for the second quarter of 2013 will be discussed in more detail on the Company's earnings conference call later today.

Conference Call Information
DreamWorks Animation will host a conference call and webcast to discuss the results on Wednesday, July 31, 2013, at 4:30 p.m. (ET). Investors can access the call by dialing (800) 230-1059 in the U.S. and (612) 234-9959 internationally and identifying "DreamWorks Animation Earnings" to the operator. The call will also be available via live webcast at ir.dreamworksanimation.com.

A replay of the conference call will be available shortly after the call ends on Wednesday, July 31, 2013. To access the replay, dial (800) 475-6701 in the U.S. and (320) 365-3844 internationally and enter 296687 as the conference ID number. Both the earnings release and archived webcast will be available on the Company's website at ir.dreamworksanimation.com.

About DreamWorks Animation
DreamWorks Animation creates high-quality entertainment, including CG animated feature films, television specials and series and live entertainment properties, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE® Magazine for five consecutive years. In 2013, DreamWorks Animation ranks #12 on the list. All of DreamWorks Animation's feature films are produced in 3D. The Company has theatrically released a total of 27 animated feature films, including the franchise properties of Shrek, Madagascar, Kung Fu Panda, How to Train Your Dragon, Puss In Boots, and The Croods.

dwa-e

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.




DREAMWORKS ANIMATION SKG, INC.


CONSOLIDATED BALANCE SHEETS


(Unaudited)



June 30, December 31,

2013 2012
---- ----

(in thousands, except
par value

and share amounts)

Assets

Cash and
cash
equivalents $28,845 $59,246

Trade
accounts
receivable,
net of
allowance
for
doubtful
accounts 93,841 109,102

Receivables
from
distributors,
net of
allowance
for
doubtful
accounts 285,118 266,185

Film and
other
inventory
costs, net 875,070 820,482

Prepaid
expenses 24,280 18,593

Other assets 14,241 14,869

Investments
in
unconsolidated
entities 34,005 9,782

Property,
plant and
equipment,
net of
accumulated
depreciation
and
amortization 188,432 188,986

Deferred
taxes, net 232,561 238,007

Intangible
assets, net
of
accumulated
amortization 153,514 148,234

Goodwill 181,983 71,406
------- ------

Total assets $2,111,890 $1,944,892
========== ==========


Liabilities and Equity

Liabilities:

Accounts
payable $4,341 $6,611

Accrued
liabilities 227,706 123,886

Payable to
former
stockholder 262,703 277,632

Deferred
revenue and
other
advances 52,634 25,517

Revolving
credit
facility 200,000 165,000
------- -------

Total
liabilities 747,384 598,646

Commitments and contingencies

Equity:

DreamWorks Animation SKG, Inc.
Stockholders' Equity:

Class A
common shares
stock, par issued, as
value $0.01 of June 30,
per share, 2013 and
350,000,000 December
shares 31, 2012,
authorized, respectively
102,855,343
and
102,687,323 1,029 1,027

Class B
common outstanding,
stock, par as of June
value $0.01 30, 2013
per share, and
150,000,000 December
shares 31, 2012
authorized,
7,838,731
shares
issued and 78 78

Additional
paid-in
capital 1,075,638 1,057,452

Accumulated
other
comprehensive
(loss)
income (2,283) 313

Retained
earnings 1,045,144 1,017,314

Less: Class
A Treasury December
common 31, 2012,
stock, at respectively
cost,
27,029,526
and
25,661,817
shares, as
of June 30,
2013 and (756,217) (730,568)
-------- --------

Total
DreamWorks
Animation
SKG, Inc.
stockholders'
equity 1,363,389 1,345,616

Non-
controlling
interests 1,117 630
----- ---

Total equity 1,364,506 1,346,246
--------- ---------

Total
liabilities
and equity $2,111,890 $1,944,892
========== ==========



DREAMWORKS ANIMATION SKG, INC.


CONSOLIDATED STATEMENTS OF INCOME


(Unaudited)



Three Months
Ended Six Months Ended

June 30, June 30,
-------- --------

2013 2012 2013 2012
---- ---- ---- ----

(in thousands, except per share
amounts)

Revenues $213,436 $162,803 $348,084 $298,887

Costs
of
revenues 133,276 114,247 218,797 210,747
------- ------- ------- -------

Gross
profit 80,160 48,556 129,287 88,140

Product
development 1,069 1,340 2,032 2,474

Selling,
general
and
administrative
expenses 49,711 30,816 92,500 58,281

Other
operating
income
related
to
Oriental
DreamWorks
contributions (2,859) - (2,859) -
------ --- ------ ---

Operating
income 32,239 16,400 37,614 27,385


Non-operating income
(expense):

Interest
income,
net 777 616 1,640 1,184

Other
income,
net 1,050 1,326 2,042 3,842

(Increase)
decrease
in
income
tax
benefit
payable
to
former
stockholder (371) 283 (1,069) 392
---- --- ------ ---

Income
before
loss
from
equity
method
investees
and
income
taxes 33,695 18,625 40,227 32,803


Loss
from
equity
method
investees 1,329 - 1,329 -
----- --- ----- ---

Income
before
income
taxes 32,366 18,625 38,898 32,803

Provision
for
income
taxes 10,118 5,853 10,536 10,957
------ ----- ------ ------

Net
income 22,248 12,772 28,362 21,846

Less:
Net
(loss)
income
attributable
to
non-
controlling
interests (5) - 532 -
--- --- --- ---

Net
income
attributable
to
DreamWorks
Animation
SKG,
Inc. $22,253 $12,772 $27,830 $21,846
======= ======= ======= =======


Net income per share
of common stock
attributable to
DreamWorks Animation
SKG, Inc.

Basic
net
income
per
share $0.27 $0.15 $0.33 $0.26

Diluted
net
income
per
share $0.26 $0.15 $0.33 $0.26

Shares used in
computing net income
per share

Basic 83,524 84,125 84,094 84,031

Diluted 84,533 84,893 84,898 84,807



DREAMWORKS ANIMATION SKG, INC.


CONSOLIDATED STATEMENTS OF CASH FLOWS


(Unaudited)



Six Months Ended

June 30,
--------

2013 2012
---- ----

(in thousands)

Operating activities

Net income $28,362 $21,846

Adjustments to reconcile net income to
net cash provided by operating
activities:

Amortization and
write-off of film
and other
inventory costs 178,023 176,990

Amortization of
intangible assets 4,408 -

Stock-based
compensation
expense 9,837 10,515

Amortization of
deferred financing
costs - 170

Depreciation and
amortization 2,351 1,884

Revenue earned
against deferred
revenue and other
advances (39,061) (32,544)

Income related to
Oriental
DreamWorks
contributions (10,700) -

Loss from equity
method investees 1,329 -

Deferred taxes, net 9,576 11,253

Changes in operating assets and
liabilities, net of the effects of the
acquisition of AwesomenessTV:

Trade accounts
receivable 7,208 3,571

Receivables from
distributors (18,933) 10,790

Film and other
inventory costs (210,984) (233,496)

Intangible assets 1,015 -

Prepaid expenses
and other assets (8,537) (10,749)

Accounts payable
and accrued
liabilities 3,694 4,805

Payable to former
stockholder (14,929) (14,593)

Income taxes
payable/
receivable, net 2,212 (276)

Deferred revenue
and other advances 74,825 58,501
------ ------

Net cash provided
by operating
activities 19,696 8,667
------ -----


Investing activities

Purchase of non-
marketable
securities - (150)

Investments in
unconsolidated
entities (14,720) -

Purchases of
property, plant
and equipment (14,858) (39,348)

Purchase of
AwesomenessTV, net
of cash acquired (30,093) -
------- ---

Net cash used in
investing
activities (59,671) (39,498)
------- -------


Financing Activities

Purchase of
treasury stock (25,854) (4,165)

Borrowings from
revolving credit
facility 45,000 -

Repayments of
borrowings from
revolving credit
facility (10,000) -
------- ---

Net cash provided
by (used in)
financing
activities 9,146 (4,165)
----- ------

Effect of exchange
rate changes on
cash and cash
equivalents 428 79

Decrease in cash
and cash
equivalents (30,401) (34,917)

Cash and cash
equivalents at
beginning of
period 59,246 116,093
------ -------

Cash and cash
equivalents at end
of period $28,845 $81,176
======= =======


Non-cash investing activities:

Intellectual
property and
technology
licenses granted
in exchange for
equity interest $10,129 $ -

Services provided
in exchange for
equity interest 571 -

Total non-cash
investing
activities $10,700 $ -
======= ==============


Supplemental disclosure of cash flow
information:

Cash (refunded)
paid during the
period for income
taxes, net $(1,529) $610
======= ====

Cash paid during
the period for
interest, net of
amounts
capitalized $690 $395
==== ====
SOURCE DreamWorks Animation SKG, Inc.

DreamWorks Animation SKG, Inc.

CONTACT: Shannon Olivas, DreamWorks Animation Investor Relations, (818) 695-3658, shannon.olivas@dreamworks.com

Web Site: http://www.dreamworksanimation.com


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