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BUSINESS
July 13, 2006 | From Reuters
CBS Radio Inc., a unit of CBS Corp., said it was cutting an unspecified number of jobs at its radio stations in the U.S. as part of a previously announced plan to manage costs. The company, based in New York, declined to specify the number of jobs it would cut. A source familiar with the matter said CBS was eliminating about 115 out of more than 8,500 full- and part-time positions at its 179 stations. CBS had announced plans more than a month ago to divest several stations in smaller markets.
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ENTERTAINMENT
October 15, 2012 | By Meg James
CBS Corp. is not about to lose Leslie Moonves. The 63-year-old chief executive has signed a new five-year deal, long in advance of his previous contract expiring in 2015. Moonves' new employment agreement, announced Monday, will keep the veteran television executive at the helm of the media company at least through June 2017. “This agreement secures the company even further into the future," Sumner Redstone, the company's chairman said. The terms of the new contract stipulates that Moonves' salary will remain at its current level, CBS said in a statement.
ENTERTAINMENT
February 20, 2014 | By Meg James
CBS' entertainment chief, Nina Tassler, has earned a bigger title -- chairman of CBS Entertainment -- and a new employment contract that will keep her at the network through 2017. Tassler will continue to be responsible for all of CBS' entertainment programming, including prime-time, daytime and late-night hours. She also will head program development for all genres, including comedy, drama, reality, mini-series and other TV specials. Tassler will oversee scheduling, research, advertising, promotions, publicity and business affairs for entertainment programming matters, but those division chiefs will continue to report CBS Corp.
ENTERTAINMENT
April 4, 2013 | By Meg James
CBS executives are not wasting any time after buying 50% of the TV Guide Network, announcing plans to heat up the cable channel's evening schedule with the No. 1 daytime drama, "The Young and the Restless. " Beginning this summer, encore episodes of the popular soap will run on the TV Guide Network, also known as TVGN, at 7 p.m. on the same day as their telecast on the top-rated CBS network. The fan-favorite drama, which is owned by Sony Pictures Television, has been enjoying a second run in cable for many years on SOAPnet, a cable property of Walt Disney Co.  However, Disney has said it eventually wants to turn SOAPnet into a channel called Disney Jr. with programming aimed at tots.  PHOTOS: Hollywood Backlot moments Repeats of "The Young and the Restless" will remain on SOAPnet until this summer, when they will shift to TVGN.
ENTERTAINMENT
May 27, 2013 | By Meg James
Viacom Chairman Sumner Redstone celebrated his 90th birthday Monday. Friends, family and business associates had planned a surprise Memorial Day birthday party in Los Angeles for the media mogul, even though Redstone has never been a big fan of birthdays -- or surprises. Not to worry. Redstone has plenty of reasons to celebrate this year. Just last week, Viacom stock hit an all time high. Redstone also received an early birthday present from Viacom's board, of which he serves as chairman.
ENTERTAINMENT
May 1, 2013 | By Meg James
The lights didn't go out on CBS Corp. during the first quarter. The Super Bowl -- which was marred by a third-quarter power outage that dimmed the lights in the New Orleans Superdome -- helped the broadcasting giant rake in more than $4 billion in revenue in the first quarter. That amounted to a 6% increase compared with the first quarter of 2012 -- and a record haul for the media company. For the quarter that ended March 31, CBS' profit soared nearly 22%. The New York media company earned $463 million, or 73 cents a share, compared with $394 million, or 59 cents a share, a year earlier.
CALIFORNIA | LOCAL
May 30, 2010 | Times Wire Services
Michael H. Jordan, a skilled troubleshooter who held leadership roles at CBS, PepsiCo and Westinghouse, died Tuesday in New York from complications related to cancer, CBS Corp. announced. He was 73. Jordan was instrumental in crafting the media conglomerate that became the CBS of today as its chairman and chief executive. As the top executive at Westinghouse Electric Corp., he engineered the acquisition of CBS in 1995. He later shed Westinghouse's industrial businesses and kept the media business.
BUSINESS
March 27, 2007 | Alana Semuels, Times Staff Writer
In the wake of declining radio revenue, CBS Corp. said Monday that it was replacing Joel Hollander, chief executive of CBS Radio, with a former president of the group, Dan Mason. The nation's second-largest radio group announced this year that revenue declined 7% in the year ended Dec. 31 after shock jock Howard Stern was lured from CBS to Sirius Satellite Radio Inc.
BUSINESS
May 22, 1999 | Bloomberg News
CBS Corp. television station group President Jonathan Klein plans to retire after 30 years with the broadcasting company, according to an internal memo sent by Klein to company managers. The 56-year-old Klein, who wasn't immediately available to comment, said in the memo that he would remain with the company during a transition period. He didn't indicate what he would do after leaving CBS. Klein was named head of the station group in 1995, after CBS was bought by Westinghouse Electric Corp.
BUSINESS
October 6, 2005 | From Associated Press
Shareholders of Viacom Inc. will get half a share of the new Viacom and half a share of CBS Corp. for each share they currently hold when the media conglomerate splits into two companies, the company said. Viacom detailed terms of its plan to split into two public companies in a Securities and Exchange Commission filing but didn't give a date for when it expects to finish the breakup. Shares rose 81 cents to $31.99.
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