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.
January 17, 2013 |
Billionaire Sumner Redstone has donated $10 million to the USC School of Cinematic Arts. The gift will be earmarked to help further the media production education programs at the school, including a state-of-the-art production facility. Redstone is executive chairman of media companies Viacom Inc. and CBS Corp. The facility will be named the Sumner M. Redstone Production Building. It will be part of the school's new Cinematic Arts Complex, which will be dedicated Feb. 5. Over the years, the 89-year-old mogul has contributed more than $100 million to various institutions and causes, including the Massachusetts General Hospital, USC Keck School of Medicine, Autism Speaks, Cambodian Children's Fund and the Global Poverty Project, among others.
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.
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.