Capital Cities-ABC Inc.: The New York entertainment...
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Capital Cities-ABC Inc.: The New York entertainment firm said its first-quarter earnings rose 18% to $82.8 million even as revenue tumbled 13% to $1.12 billion from a strong period a year ago, when ABC telecast the 1988 Super Bowl game and the Winter Olympics. The results include interest income of $25.5 million, up six times from a year earlier. The company said its operating income slipped 2% to $163.8 million as its operating profit from broadcasting operations fell while income from publishing operations held steady.
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