May 4, 2007 |
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.
January 8, 2008 |
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.
November 16, 1999 |
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.
May 27, 2006 |
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.
December 1, 1997 |
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.
July 5, 2008 |
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.
October 15, 2012 |
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.
July 8, 2013 |
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.
January 24, 2014 |
Although he rarely makes it into the office these days, Sumner Redstone continues to collect a handsome executive compensation package. The 90-year-old controlling shareholder of Viacom Inc. received a package valued at $36.2 million in 2013 in his role as executive chairman of the New York cable television and movie company, according to a filing Friday with the Securities and Exchange Commission. That represented a 50% increase over Redstone's 2012 Viacom compensation of $24.2 million.
November 11, 2013 |
Louis J. Briskman plans to retire next month from his role as general counsel of CBS Corp. A mainstay of the broadcasting company, Briskman first joined CBS in 1975 when it was Westinghouse Electric Corp. He has served as the top lawyer for four public corporations, including Aetna Inc., Group W (the broadcasting subsidiary of Westinghouse) and Westinghouse Electric. After his stint at Aetna, Briskman rejoined CBS in September 2005, just four months before the CBS breakup with Viacom Inc. At that point, CBS became a separate publicly traded company.