CBS Publishing Unit: E-Books Are The Future

CBS Statement: "While the company is doing well on most fronts, its publishing division Simon & Schuster continues to see softening sales. The publishing revenues have declined from close to $900 million in 2007 to close to $800 million in 2009, and are further expected to decline in 2010. In our forecast, we estimate that Simon & Schuster and CNet together account for around 8% of our stock price estimate. The bright side is that the growth in digital publishing is offsetting the decline in traditional publishing and could well drive revenue growth in the near future given the increased adoption of e-books and greater use of tablets as e-reading devices."