July 16, 2013 |
Platinum Equity, the Los Angeles-based private equity firm, announced Tuesday it will buy CBS Corp.'s international billboard division for $225 million. Known as CBS Outdoor International, the division has billboards in the U.K., France, Ireland and other European countries. “CBSO International is a well-established brand with valuable media assets and broad reach throughout Europe,” said Bastian Lueken, head of Platinum Equity's European merger and acquisitions team. Photos: Top 10 Southern California companies Platinum Equity is run by chairman Tom Gores.
July 11, 2013 |
Although neither side is taking shots at each other publicly, there is an undercurrent of tension between Time Warner Cable and CBS Corp. as the two companies attempt to negotiate a new distribution deal. Time Warner Cable's agreement to carry CBS-owned TV stations including KCBS in Los Angeles, the basic cable channels CBS Sports Network and Smithsonian, and the pay network Showtime expired at the end of June. Since then, there have been a couple of extensions, the latest one running to a few days before the end of the month.
July 10, 2013 |
Does CBS have a double standard when it comes to potentially offensive jokes and comments about minorities? It appears so, judging from the network's recent stance in the brewing controversy over racist barbs made by contestants on its reality show "Big Brother. " The network moved quickly to criticize the "Big Brother" remarks and distance themselves from the contestants, saying the remarks "reveal prejudices and other beliefs that we do not condone. " PHOTOS: Cable versus broadcast ratings However, CBS' scripted shows apparently are a different reality. Key characters in popular CBS' shows, including “2 Broke Girls” and “Mike and Molly,” have regularly made jokes about minorities that some critics and advocacy groups argued were offensive.
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.
July 5, 2013 |
This post has been updated. See below for details. CBS Corp. Chief Executive Leslie Moonves sold 450,000 shares of CBS stock this week for about $22 million, according to a regulatory filing. The television titan, whose compensation package last year topped $62 million , acquired the stock as part of his long-term incentive program. The sales, which were part of a regular schedule of sales to avoid the appearance of market timing, occurred on Monday and Tuesday, according to the filing.
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.
June 25, 2013 |
Comcast Corp. says Aereo, a company that distributes broadcast programming on the Web, violates its copyrights, but according to often-contrarian analyst Richard Greenfield of BTIG, the cable giant is fighting the tech firm at its own peril. Comcast has argued that the Web TV company distributes its content without permission, which hurts its broadcaster, NBC Universal. CBS, Fox and ABC have all made similar legal arguments. But Aereo could help Comcast's pay-TV business, Greenfield said in a note to clients Monday.
June 12, 2013 |
The Fox broadcast network, which suffered a prime-time ratings free-fall during the just completed TV season, has closed out its upfront advertising sales with its total haul falling short of last year's auction. Despite its ratings woes, Fox was able to hike its ad rates by 5% to 7% for prime-time commercials for the 2013-14 television season, according to a person familiar with the negotiations. The News Corp. network secured commitments from advertisers totaling $1.75 billion to $1.8 billion, which represents about an 8% decline from its year-ago amount.
June 7, 2013 |
CBS' highly anticipated thriller, "Under the Dome," could help create a new business model for TV shows -- and encourage broadcasters to gamble on risky big-event summer programming. The 13-episode series, which debuts June 24 on CBS, is based on a bestselling Stephen King novel by the same name and produced by Steven Spielberg's Amblin Entertainment and CBS Studios. "Under the Dome" takes place in a small American town that is suddenly and inexplicably sealed off from the rest of the world by a gigantic transparent dome.
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.