November 4, 2005 |
Marking its entry into the competitive field of cable sports, CBS said it was buying College Sports Television Networks Inc. for $325 million in a stock transaction expected to be completed early next year, after CBS parent Viacom Inc. splits into two companies. The deal is likely to be the first major acquisition for the new CBS Corp. under Chief Executive Leslie Moonves.
July 13, 2006 |
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.
February 6, 1997 |
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.
July 1, 2013 |
Tribune Co. has agreed to purchase 19 television stations owned by Local TV Holdings in a $2.73-billion deal that is expected to make Tribune the largest television station group in the country. Tribune and Local TV Holdings said early Monday that they had entered into a definitive agreement for Tribune to acquire all of Local TV's television stations in a cash transaction. Local TV's stations are located in 16 markets, including Denver, Salt Lake City, Cleveland and Kansas City.
May 27, 2013 |
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.
CALIFORNIA | LOCAL
May 30, 2010 |
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.
March 27, 2007 |
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.
May 22, 1999 |
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.
October 6, 2005 |
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.
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.