|Charlie Sheen is out of the hospital.|
NEW YORK ( TheStreet) -- Charlie Sheen was released from the hospital on Friday after a brief stay related to complaints of severe abdominal pains. The 45-year-old actor was rushed to Cedars-Sinai Medical Center in Los Angeles on Thursday. Sources close to the actor reportedly say the pain was related to a hernia in his stomach. "Charlie Sheen left the hospital last night and is at home," the actor's representative told Us Magazine.
Sheen stars in the hit CBS ( CBS) series Two and a Half Men, which is produced by Warner Bros., a unit of Time Warner ( TWX). In 2010, Warner Bros. signed a multi-year broadcast agreement with CBS, renewing Two and Half Men through 2012. CBS shares fell 1.6% on Thursday following the news that the network's highest paid actor was rushed to the hospital, and the stock was losing another 3.5% to $19.54 in Friday's session with volume of 10.3 million already above the issue's trailing three-month daily average of 9 million. At current prices, the shares have fallen 6.3% since hitting a 52-week high of $20.86 on Monday. Most media analysts, including James Goss of Barrington Research, weren't willing to comment on the prospect of a correlation between Sheen's hospitalization and the stock's pullback. The show racks in about 14 million viewers per week and is the network's most lucrative show in terms of ad sales. Last season Two and a Half Men brought in $155 million in revenue.
Sheen's ongoing alcohol and drug issues have made headlines for years, but oddly have had little effect on the show's ratings. Now in its eighth season, Two and Half Men is ranked as TV's No. 1 comedy and consistently draws strong ratings among viewers ages 18 to 49. The network reportedly earns more than $200,000 per 30-second commercial that airs during the show and Sheen remains the highest paid actor on television, receiving a reported $1.8 million per episode. Sheen's co-star, Jon Cryer joked about his publicized personal issues on Wednesday. "I'm checking TMZ, as I do every day, to know if I have to go to work at all," Cryer said. Reports claim that representatives from both CBS and Warner Bros. have approached Sheen with offers to suspend production temporarily so the star can seek help. The studio even proposed moving ahead with the show and producing a few episodes without the actor, which would give him time to address his health. Sheen has reportedly declined the offer. While doctors say Sheen may require surgery to repair his hernia, his representative told Us Magazine that he will return to work next week. "He will be on the set of Two and Half Men on Tuesday," his rep said. Now we want to know what readers of TheStreet think CBS and Time Warner should do regarding Charlie Sheen's troubling personal life.
--Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: email@example.com.