CBS Emmy Award Losses Not Insured

The decision by CBS television to cancel the Emmy Awards Show in Los Angeles for a second time on Oct. 7 cost the network millions in ad revenues, and the production wasnt covered by cancellation insurance, a network representative said.

“There was no cancellation coverage,” according to Gene Mellevold, vice president, risk management for Viacom. “Losses were absorbed by Viacom, which owns CBS. Obviously for CBS theres a tremendous loss of revenue.”

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