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BUSINESS
January 30, 2010 | By Matea Gold
CBS News, seeking to hold down news-gathering costs as its flagship evening and morning news programs continue to trail in the ratings, is preparing a significant round of layoffs next week, according to people familiar with the situation. The budget tightening is expected to affect every CBS News program, including "60 Minutes," the network's crown jewel, though the cuts on that show will be minimal. As many as 100 positions, or 7% of CBS News' 1,400-person staff, could be cut, these people said.
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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.
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.
NEWS
November 7, 2012 | By Meg James
Higher fees for programming boosted broadcasting giant CBS Corp. to a solid third quarter with 15.7% growth in profit. For the period that ended Sept. 30, the company reported net earnings of $391 million, or 60 cents a share, up from $338 million, or 50 cents a share, during the third quarter of 2011.  The earnings matched Wall Street analysts' forecasts. "CBS is keeping its streak with another quarter of record-breaking results," Chief Executive Leslie Moonves said Wednesday in a conference call with analysts.
BUSINESS
April 23, 1999 | Bloomberg News
CBS Corp., the top-rated U.S. TV network, said it has agreed to buy a 33% stake in WinStar Communications Inc.'s Office.com in exchange for $42 million in advertising, expanding its online holdings. Over six years, CBS will promote and provide advertising for Office.com on its TV network and affiliated stations, as well as across the radio and billboard businesses of Infinity Broadcasting Corp., in which CBS owns an 83% stake. Office.
BUSINESS
September 21, 1999
CBS Corp., owner of the top-rated U.S. television network, said it will promote its new season of shows over America Online, giving it access to the No. 1 online service's more than 17 million subscribers. The campaign is to begin today and run through Sunday. CBS ads touting the network's new fall schedule will be displayed on several high-traffic areas of AOL, including its entertainment channel and "welcome" screen. In exchange, CBS will provide advertising time for AOL.
BUSINESS
July 29, 1999 | From Bloomberg News
CBS Corp. has signed a new long-term contract with Leslie Moonves, president and chief executive of CBS Television, quashing speculation that the company's No. 2 executive is in the running for the top job at Time Warner's Hollywood studio. Moonves will join the CBS board. CBS would not disclose details of the new contract, which is effective immediately. Moonves' previous contract was due to expire in December of next year.
BUSINESS
March 14, 2007 | From Bloomberg News
CBS Corp. Chairman Sumner Redstone, bowing to shareholder complaints that company directors and top executives were overpaid, cut his salary and cash bonus for 2007 and linked his compensation to the stock's performance. CBS also said in a statement Tuesday that it resolved a case with shareholders who filed a complaint in 2005 charging the company with overpaying top executives.
BUSINESS
November 23, 2005 | From Bloomberg News
Viacom Inc. on Tuesday appointed seven independent directors to the boards of CBS Corp. and the new Viacom, which will be formed after the company splits this year. Four directors including Bank of America Corp. Chairman Emeritus Charles Gifford, 63, and Bruce Gordon, 59, chief executive of the National Assn. for the Advancement of Colored People, will join the CBS board, Viacom said.
BUSINESS
April 4, 2000 | From Bloomberg News
CBS Corp. lost a round in a sex discrimination suit when a federal judge Monday approved class-action status for female technicians at five CBS television stations. The number of women joining the class could exceed 150, according to one of the plaintiffs' attorneys. The original suit was filed on behalf of four plaintiffs. U.S. District Judge Donovan W.
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