CBS Corporation

Patricia Hylton    Pittsylvania Co. Va.

Posted at 3:17pm on Monday, January 11th, 2010

Who knows where this is going,yet couldn't help using this for a stated opinion.
I watch little in the way of SOAPS these days, however, I learned of the two long running stories being removed on CBS, and how one thus far is being replaced by a game show.
Who was the master mind behind this thought,do you really believe a soap fan will enjoy a game show long? Think again, you will loose them to other stations for certain.
We are in tough times we all know, yet SOAPS have been around in the worse of situations.....

Catherine    Little Rock, USA

Posted at 8:13pm on Sunday, December 27th, 2009

Are the people there deaf ? Well, I'm not and I resent the commercials SCREAMING at me. Do the advertisers really think I will buy their products or watch Regis & Kelly because it is beyond LOUD ! Does CBS want to be the loudest kid at the playground. Bad form! Grow up and tone it down. Oh yes, I press the mute until the show resumes.

Media Owners editors    Boulder, Colorado USA

Posted at 11:33pm on Sunday, November 8th, 2009

On November 5, 2009, CBS Corporation reported results for the third quarter ended September 30, 2009.

"The operating environment for our businesses continues to improve and we are finishing the year with strong momentum," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "So far this year, each quarter has been better than the one before, with the third quarter showing significant improvement over the second, just as we expected. Going forward, we have many reasons for optimism as we look to 2010: In the new fall season, we are not only again the #1 television network, we have also grown our audience year-over-year. Our premium cable business continues to enhance its profile and once again added subscribers during the quarter. We've sold five series into domestic syndication this year, and global demand for our programming continues to grow. And on the local front, pacing continues rising steadily for TV, radio and outdoor, and we expect that with our new streamlined cost structure, margins will improve significantly going forward as well."

Revenues for the third quarter of 2009 totaled $3.35 billion compared to $3.38 billion for the same prior-year quarter due to lower advertising sales largely offset by higher syndication sales.

Operating income before depreciation and amortization ("OIBDA") for the third quarter of 2009 was $565.6 million compared with a loss of $13.48 billion for last year's third quarter. Operating income was $418.2 million for the third quarter of 2009 versus an operating loss of $13.62 billion for the same quarter last year.

Results for the third quarter of 2009 included a pre-tax non-cash impairment charge of $31.7 million ($23.1 million, net of tax) and results for 2008 included pre-tax non-cash impairment charges of $14.12 billion ($12.69 billion, net of tax). Before impairment charges, third quarter 2009 OIBDA was $597.3 million and operating income was $449.9 million compared with OIBDA of $638.8 million and operating income of $499.1 million for the third quarter of 2008.

Net earnings for the third quarter of 2009 were $207.6 million versus a net loss of $12.46 billion for the same quarter last year and diluted earnings per share were $.30 in 2009 compared to a loss of $18.58 per diluted share in 2008. Before impairment charges, adjusted net earnings for the third quarter of 2008 were $265.9 million and adjusted diluted earnings per share were $.39.

Media Owners editors    Boulder, Colorado USA

Posted at 12:17pm on Wednesday, August 12th, 2009

CBS Corporation announced on August 10, 2009 that it has signed a definitive agreement to sell four of its owned radio stations in Portland, Oregon, KINK-FM (Adult Album Alternative), KUPL-FM (Country), KUFO-FM (Active/Alternative Rock) and KCMD-AM (Talk), to Alpha Broadcasting for $40 million in cash.

"I am pleased that we were able to secure another attractive deal for our valuable radio assets," said Dan Mason, President and Chief Executive Officer, CBS RADIO. "With this sale of our Portland stations - our third deal in the past eight months for a total of twelve station sales - we're another step closer to our goal of focusing primarily on the nation's largest markets where we see the most long-term promise. The marketplace for station sales is improving, so we expect to make further progress on that goal going forward."

Larry Wilson, the Chairman and Chief Executive Officer of Alpha Broadcasting, said, "The purchase of these great stations is a perfect complement to the acquisition of news talk KXL-AM and KXTG-FM in Portland. With this dynamic cluster, Alpha will be able to serve a wide array of Portland residents. The mission of Alpha Broadcasting is to provide entertaining, informative, and compelling programming for the people of Portland, and to produce fantastic results for the Portland advertisers we serve while being upstanding citizens of the community."

The transaction is subject to customary conditions, including regulatory and other approvals.

Media Owners editors    Boulder, Colorado USA

Posted at 11:59am on Wednesday, August 12th, 2009

On August 6, 2009, CBS Corporation reported reported results for the second quarter ended June 30, 2009, with revenues of $3.01 billion, adjusted earnings per share of $.08 on a diluted basis and free cash flow of $351.7 million.

"Leslie and his management team continue to run CBS with a sure and steady hand," said Sumner Redstone, Executive Chairman, CBS Corporation. "We are focused on what matters most: maintaining financial flexibility and positioning the Company as one of the leading beneficiaries in an economic recovery. I am proud of the work our people do each day to achieve these goals, and confident in CBS's bright future."

"As we anticipated, early signs of a recovery took hold in the second quarter, and our revenue, profit and EPS trends were all better than in the first quarter," said Leslie Moonves, President and Chief Executive Officer, CBS Corporation. "We continue to believe that the back half of the year will be considerably stronger than the first. We are particularly encouraged by the strong performance of our many content businesses. Following a season where we were the only Network to grow in all key demos, CBS is again alone in adding viewers this summer, and well positioned to carry that momentum into the fall. We also have a strong slate of syndication titles in the pipeline for release between now and year-end. And we continue to see the benefits of the aggressive steps we have taken to reduce expenses throughout the Company. As the U.S. economy improves, we are confident we can deliver stronger financial results in both the near and longer term."

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