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BUSINESS
February 18, 2009 | Meg James
CBS declared itself "Mentally Strong" in a news release the other day, trumpeting the big ratings for the network's latest hit drama, "The Mentalist." Fiscally fit, however, is the question. The broadcasting giant today reports quarterly results, and Wall Street is bracing for grim numbers -- and looking for CBS Corp. to outline a strategy for how it will navigate the choppy waters ahead.
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ENTERTAINMENT
February 14, 2013 | By Meg James
Broadcasting giant CBS Corp. reported 6.2% higher profit for the fourth quarter of 2012, boosted by higher advertising at the top-rated CBS television network and an increase in subscriber fees for its premium channel Showtime. For the quarter that ended Dec. 31, CBS earned $393 million, or 60 cents a share, up from $370 million, or 55 cents, in the fourth quarter of 2011. Revenue was up 2%, to $3.7 billion. CBS delivered adjusted net earnings of $414 million, or 64 cents a share, up from $377 million during the year-earlier period -- falling short of analysts' estimates of 68 cents a share.
BUSINESS
May 8, 2009 | Meg James
The anemic advertising market drained the profit from CBS Corp. The broadcasting company, which owns the CBS network, television and radio stations and a bevy of billboards, on Thursday reported a first-quarter net loss of $55.3 million, or 8 cents a share. That compared with net income of $244.3 million, or 36 cents, for the same period last year.
ENTERTAINMENT
September 3, 2013 | By Greg Braxton, Los Angeles Times
"Big Brother" contestant Aaryn Gries, whose racial and homophobic slurs have sparked a firestorm - and high ratings - for the CBS reality show, has at least one ally - her mother. Just days after Gries was evicted from the "Big Brother" house, Elizabeth Owens is speaking out in a statement to The Times, chastising her daughter but declaring that the remarks are not reflective of Gries' upbringing or her true character. "While I love and continue to support my daughter Aaryn, words cannot describe my disappointment in some of her comments made on 'Big Brother,'" Owens wrote.
BUSINESS
February 6, 1997 | Bloomberg News
Westinghouse Electric Corp. said it will be known as CBS Corp. after it spins off its industrial businesses later this year to create a pure broadcasting company. The media company will also use the CBS "eye" as its logo. The decision to use the CBS name and logo came after a $30,000 study by corporate-identity consultant Lippincott & Margulies concluded CBS was a logical choice because it's recognized around the world.
BUSINESS
March 28, 2008 | From Times Wire Services
CBS Corp. named John Nogawski president of television distribution, responsible for "The Oprah Winfrey Show," "Jeopardy!" and "Dr. Phil." Nogawski will oversee all creative, business and administrative operations for domestic TV syndication, New York-based CBS said. He reports to Chief Executive Leslie Moonves.
BUSINESS
August 5, 2006 | From Bloomberg News
CBS Corp.'s Paramount Network Television named Glenn Geller senior vice president, current programming, replacing Tom Russo. Geller, formerly a programming executive with the CBS network, will oversee prime-time series at the Los Angeles-based studio. He will report to division President David Stapf.
BUSINESS
August 20, 2008 | From Times Wire Services
CBS Corp. hired Jennifer Bresnan to lead development of reality shows, replacing Ghen Maynard. Bresnan, named senior vice president of alternative programming, will oversee reality shows such as "Survivor" and report to CBS Entertainment President Nina Tassler, the New York company said. CBS hired Bresnan from the CW Network, where she supervised programs that included "America's Next Top Model."
BUSINESS
April 14, 2007 | From Bloomberg News
CBS Corp. paid Chief Executive Leslie Moonves $28.6 million for last year, more than twice what Chairman Sumner Redstone received. Moonves was paid $5.61 million in salary and a $15-million bonus, New York-based CBS said. Redstone got $12.2 million including $3.1 million in salary and a $7.32-million bonus.
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