CBS Corporation

Eric Kallgren    Boulder, Colorado USA

Posted at 4:46pm on Thursday, April 30th, 2009

Sumner Redstone has no plans to give up CBS Corporation or Viacom. He also believes the newspaper business is dying, and that Rupert Murdoch paid too much for The Wall Steet Journal, Reuters reported on April 29, 2009:

"Redstone's National Amusements is the holding company for his controlling stakes in CBS and Viacom Inc.

He would not answer specific questions about CBS because the company is due to report earnings on Thursday, but waved off fears that CBS's popular "CSI" franchise would see a drop in ratings once General Electric Co's NBC puts popular talk show host Jay Leno in the same prime-time slot.

Redstone also swore off investment in the struggling newspaper industry, which has been pummeled by closures, layoffs and losses.

"The newspaper is dying. I'm not sure there will be newspapers and its one business I'd never be in," he said, taking a swipe at rival mogul Rupert Murdoch, whose News Corp bought the Wall Street Journal.

"Murdoch paid too much for the Wall Street Journal even when he didn't have any competition," he said.

"The reason we have not gone to newspapers is because its a slow growth industry and I think they are dying. I'm not sure there will be newspapers in 10 years. I read newspapers every day. I even read Murdoch's Wall Street Journal."

Eric Kallgren    Boulder, Colorado USA

Posted at 11:35am on Wednesday, March 25th, 2009

Someone should spank Sumner, according to Simon Dumenco.

Writing at the Advertising Age web site on March 23, 2009, Dumenco had these words about Redstone:

"And let's do the arithmetic on how billionaire Redstone has further enriched himself and his executive ranks while making value-destroying decisions. In its most recent report on Sumner's compensation, covering 2007, BusinessWeek calculated that he pulled in nearly $10 mil; I can't wait for the 2008 numbers to get tallied. Go back a couple years to 2005, when Redstone was still sticking with his brilliant plan to have Les Moonves and Tom Freston co-run Viacom as co-prezzies/co-COOs (before he split the company in two). In that year Redstone pulled down $56 million, and Moonves and Freston pulled down $52 million each. And let's not forget that when Freston got iced out in 2006, he scored a $59 million severance package.

In the bizarro world of American big media, it's no wonder there's no money left for journalism anymore."

George    Wisconsin

Posted at 12:05pm on Monday, March 16th, 2009

Geraldine, I'm so glad that most of you are "silent" and let Rush Limbaugh do you're inane propaganda for you. Be a good person, and stay quiet.

Eric Kallgren    Boulder, Colorado USA

Posted at 11:41am on Monday, February 16th, 2009

February 12, 2009: The Wall Street Journal reported that CBS Corporation is likely to cut its dividend:

"Leslie Moonves sometimes gives the impression he could see a glass as half full even if it was upside down. But the advertising slump is surely testing even his optimism.

That is why what CBS says about its dividend next week, when it reports earnings, will be significant. A reduction would be an acknowledgment that despite the CBS CEO's frequent upbeat statements -- such as his Jan. 6 comment that he felt "much more optimistic" in 2009 than in 2008 -- CBS wants to preserve cash to meet $1.6 billion of debt obligations due next year.

That the environment demands such action is clear. Just Wednesday, TV station owner Sinclair Broadcast Group said it was suspending its dividend while predicting station revenues will drop more than 20% this quarter.

And with CBS shares now trading with an implied dividend yield of 18%, Wall Street is clearly expecting a dividend cut."

Johnson    Philadelphia, PA

Posted at 6:03am on Tuesday, December 16th, 2008

I've never seen so many uninformed comments. If any of you would actually take a look, conservative voices out number liberal voices 3/4ths most of the time, especially on sunday and morning shows. Conservatives have the WHOLE of Fox News plus get conservative view points on most other networks minus MSNBC, but then again they always have people like Pat Buchannon (sp) and the heritage foundation pushing stores as well as drudge. Remember it was all about Obama's race, but there was NOTHING on the race of Sarah Palin when we was guarded against demons and witchcraft. If you look at any of the past major powers they ended up falling when the conservatives had too much control. yes I call hitler and mussolini conservative, anytime people are trying to conrol others I consider that conservative. And we all know the Germans have a knack for religious persecusion

Ron    Tampa, FL

Posted at 5:19pm on Friday, November 21st, 2008

CBS also owns a station in Tampa and Portsmouth, VA.

Joanie Foster    Acworth, Ga.

Posted at 9:08pm on Wednesday, November 12th, 2008

You'd have the respect of 1/2 of the U.S. if you'd learn to respect us! Do you only hire l00% Liberals who talk to 100% Liberals? Ever here of FAIR & BALANCED? Stop your Liberal Brainwashing and buying Presidential Elections!

geraldine pierce    Massillon ohio

Posted at 9:08am on Friday, October 3rd, 2008

Im very tired of the bias and perverted views of our President being portrayed as someone who knows nothing.Hollywood has lost there morals and feel they have no one to be accountable too.There is a huge silent group of people who are very wise and will not argue with fools.They hold a lot of weight in this country.Hollywood runs there mouths at the President and the GOP We the silent ones decide on not putting one more penny towards the media.Were not afraid to confront the pervert ways of the media.You are afraid of us. We do not argue with fools. The media is loosing respect and dignity we dont listen to you.So called movie stars are like idiots squacking at each other.Wake- up your opinions really dont matter.Why do you have a big head over it.Your selling our country out..Wake- up before its too late.

Carlee H.    Louisville, USA

Posted at 8:50am on Thursday, September 4th, 2008

I am a highschool journalist and I am doing a story on the media influence in the campainge of Barack Obama, do you know if the owner of NBC is democractic or has any direct affiliation with Obama?

darlene howerton    coeur d alene idaho usa

Posted at 5:30pm on Monday, September 1st, 2008

please check into the former district court judge craig kosonen who was reported to be disbarred for drug trafficking and is a drug gang member at the age of 73 he served 30 yrs o n the bench his appeal record is 86 percent losses to the national average of 3 percent he has an affinity to take care of his drug friends he resides in a home owned by his son he is avoiding prosecution and has a wife who has said hell he never even had a LAW LICENSE TO BEGIN WITH HOOW CAN SOME ARROGANT STUPID PERSON LIKE THIS BE ALLOWED TO ROAM THE STREETS WITHOUT PEOSECUTION HE HAS 10 DUI CONVECTIONS ACCORDING TO NANNY HIS WIFE THREE WIVES AS HE IS A REAL WEIRD PERSON HE HAS APPLIED FOR WELFARE BENEFITS IN WA STATE AND LIVES IN IDAHO WE NEED AN EXPOSE ON MR SPONGE BOB AS HE CALLS HIMSELF AND HE CALLS HIS LAW LIOCENSE A LIQOUR LICENSE HELP THIS STUPID KOOTENIA COUNTY OUT