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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.
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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.
BUSINESS
May 12, 2006 | From Reuters
A CBS Corp. lawyer told a judge that an agreement was near to settle a lawsuit against former radio host Howard Stern over his move to Sirius Satellite Radio Inc., a CBS executive said Thursday. CBS Radio sued Stern, his company, One Twelve Inc., his agent, Don Buchwald, and Sirius in February, alleging breach of contract, fraud, unjust enrichment and misuse of CBS broadcast time. It sought unspecified compensatory and punitive damages.
BUSINESS
December 28, 2006 | From Bloomberg News
Time Warner Inc.'s defunct WB network and CBS Corp. will pay Granite Broadcasting Corp. about $13.2 million to settle a lawsuit over claims that they disrupted the sale of two TV stations. WB prematurely ended affiliations with Granite's KBWB in San Francisco and WDWB in Detroit, leading to cancellation of a planned $180-million sale to AM Media Holdings, Granite claimed in a May 17 complaint in Delaware Chancery Court.
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
August 19, 2013 | By Meg James
CBS Corp. wants to send the message that it won't tolerate copycats. On Monday, the No. 1-ranked television network said that it had reached a settlement in the 15-month legal dispute over whether ABC's "The Glass House," a short-lived reality show that closely mirrored CBS' successful "Big Brother" show, constituted a violation of CBS' copyright and trade secrets. CBS said it would receive compensation in the matter, but it declined to say how much. ON LOCATION: Where the cameras roll "The Glass House" got stoned in the ratings last summer.  The program, about a group of strangers living together in a house and cut off from the outside world, ran just 10 episodes, mustering fewer than 4 million viewers an installment throughout its short tenure.
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
January 8, 2014 | By Ryan Faughnder
Episodes of "Extant," the CBS drama series starring Halle Berry and produced by Steven Spielberg's Amblin Television, will be available on Amazon.com Inc.'s Prime Instant video streaming service four days after they first air.  The content licensing deal between CBS and the online retailer mirrors the agreement for 2013's summer hit "Under the Dome," based on the Stephen King book. Episodes of "Under the Dome" were also available four days after their original broadcast date for Amazon Prime subscribers.  The "Under the Dome was the most-watched TV season on the Amazon streaming service in the last year.
ENTERTAINMENT
August 15, 2013 | By Meg James
CW Seed, an experimental digital entertainment studio and website, launched Thursday with four original Web shows. The ambitious effort represents a dramatic increase in the CW television network's investment in original programming for digital platforms. CW intends to roll out fresh episodes each week and add two other Web shows to the site later in the fall. CW Seed will be anchored by the third season of the cheeky comedy "Husbands," which was formerly on YouTube. "Husbands" tells the story of two young guys (a professional athlete and a tabloid personality)
BUSINESS
November 15, 1997 | From Reuters
Westinghouse Electric Corp. said Friday that it agreed to sell its power-generation business to Siemens of Germany for $1.5 billion in cash as part of its plan to divest its industrial businesses and become a media company. Westinghouse said its divestiture timetable had been pushed back about six months but was expected to be completed by the middle of next year, after which it will be a "pure-play media company" led by its CBS television network.
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