CBS Emmy Award Losses Not Insured
The decision by CBS television to cancel the Emmy Awards Show inLos Angeles for a second time on Oct. 7 cost the network millionsin ad revenues, and the production wasnt covered by cancellationinsurance, a network representative said.
“There was no cancellation coverage,” according to GeneMellevold, vice president, risk management for Viacom. “Losses wereabsorbed by Viacom, which owns CBS. Obviously for CBS theres atremendous loss of revenue.”
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