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BUSINESS
May 4, 2007 | From the Associated Press
CBS Corp., producer of "60 Minutes" and the hit crime series "CSI," said Thursday that its first-quarter earnings fell 6%, hurt by the sale of radio stations and lower syndicated TV income. CBS, which also operates outdoor advertising and publishing units, said net income fell to $213.5 million, or 28 cents a share, from $226.9 million, or 30 cents, a year earlier. The latest quarter included a tax charge related to the sale of some radio stations. Excluding items, earnings rose 8% to $253.
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ENTERTAINMENT
January 8, 2008 | From City News Service
In the latest unconventional move by a network to deal with the writers strike, CBS said Monday that it would air the first season of the Showtime serial-killer drama "Dexter" at 10 p.m. Sundays, beginning Feb. 17. It will mark the first time a full season of a premium cable drama series will be shown on network television. All 12 of "Dexter's" first-season episodes will be edited and broadcast on a dozen consecutive Sundays in the time slot occupied by "Shark," a CBS executive said.
BUSINESS
November 16, 1999 | Bloomberg News
CBS Corp., one of the biggest television and radio broadcasters, said it has completed its purchase of King World Productions Inc., the largest TV syndication company, for about $3.21 billion in stock. After about two months of delays, King World said 99% of its shareholders who cast ballots approved the sale to CBS. King World shareholders will get 0.81 of a share of CBS common stock for each of their King World shares. That's about $42.98 a share, or 2.
BUSINESS
May 27, 2006 | From the Associated Press
Howard Stern regained control of the master tapes from the last 20 years of his previous radio program in a settlement of the contentious lawsuit brought by his former bosses at CBS Radio. Stern's new employer, Sirius Satellite Radio Inc., agreed to pay $2 million to CBS Radio, CBS Corp.'s radio subsidiary, for the rights to the recordings, both sides said. Other details of the settlement remained confidential.
BUSINESS
December 1, 1997 | Bloomberg News
Westinghouse Electric Corp. will become CBS Corp. and move its headquarters from Pittsburgh to New York City today as part of the company's shift to media from its industrial roots. The company, founded 111 years ago as a maker of air brakes for trains, is assuming the name of the broadcast TV network it bought two years ago for $5.4 billion. Since then, Westinghouse has moved deeper into radio and TV, spending more than $9 billion to acquire stations.
ENTERTAINMENT
July 5, 2008 | From the Associated Press
A former accountant for Rachael Ray's TV cooking show has filed a $1-million lawsuit, saying he was forced out of his job because he has an eating disorder. Aaron Ferguson says in papers filed in Manhattan's state Supreme Court that he has suffered from anorexia for about six years. He says his supervisor repeatedly exhibited "hostile behavior" and made "vile," discriminatory and hurtful comments. Ferguson said he began working in July 2007 for CBS Television Distributions Inc., a CBS Corp.
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
July 8, 2013 | By Ryan Faughnder
Netflix Inc. and CBS Corp. have expanded a multi-year licensing agreement to stream CBS shows.  The revised deal makes shows such as “The L.A. Complex,” “The 4400” and “CSI: NY” available for streaming. The agreement also includes shows already on Netflix, such as "Jericho," “Star Trek” and “Twin Peaks.”   Terms of the agreement were not disclosed.  ON LOCATION: Where the cameras roll In 2011, the companies announced a two-year, non-exclusive licensing agreement to stream  full seasons of shows such as "Frasier" and "Cheers.
ENTERTAINMENT
March 26, 2013 | By Meg James
CBS Corp. has acquired a 50% stake in the TV Guide Network for about $100 million, giving the big broadcaster a larger toehold in cable television. CBS said Tuesday it had entered into a joint venture with the independent film and television studio Lionsgate, which owns the other 50% of the channel also known as TVGN.  CBS bought out the stake held by One Equity Partners, an investment arm of JPMorgan Chase & Co.  The 32-year-old TVGN is widely distributed -- it is available in 80 million homes -- but it has stumbled attempting to create an identity after the conversion to digital channels that made the TV Guide channel's once useful rolling scroll of cable channel program schedules irrelevant.  IN CASE YOU MISSED IT: Your entertainment 'Morning Fix' Now cable subscribers can easily navigate an interactive channel guide by tapping a button on their remote controls.
ENTERTAINMENT
February 14, 2013 | By Meg James
Broadcasting giant CBS Corp. is taking a minority stake in AXS TV, the nascent music-oriented cable channel owned by billionaire Mark Cuban and Los Angeles entertainment giant AEG. CBS will receive an undisclosed interest in the high-definition television channel in exchange for providing programming and marketing to the joint venture. With rights to such prominent events as the Grammy Awards, Broadway's Tony Awards and the Academy of Country Music Awards, CBS can give AXS a front row seat and backstage access that other channels lack.  Major programs will continue to air on the CBS broadcast network, but CBS plans to provide hours of additional coverage to its tentpole events with extras such as red carpet and backstage interviews.  CBS also agreed to promote the channel and its events on CBS' top-rated television network, TV stations, radio stations and even billboards.
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