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Chief Executive Leslie Moonves

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BUSINESS
December 15, 2011 | By Joe Flint, Los Angeles Times
The National Football League has signed record-setting television rights deals with Fox, NBC and CBS that will see the broadcast networks pay a total of nearly $28 billion in fees over nine years. That breaks down to an average of $3.1 billion a year, representing a 63% increase over the $1.9 billion paid annually by CBS, NBC and Fox for NFL football under their current contracts. The new accords, which take effect after the 2013 season and run through 2022, come just two months after the NFL signed an eight-year pact with Walt Disney Co.'s ESPN that boosted the cable sports network's average annual rights fee to $1.9 billion from $1.1 billion.
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ENTERTAINMENT
April 11, 2014 | By Meg James
CBS Corp. Chief Executive Leslie Moonves remains the king of media compensation. The 64-year-old television executive and Beverly Hills resident was awarded a $66.9-million compensation package last year, according to a Securities and Exchange Commission filing on Friday. That was up nearly 8% from the $62.2-million package he got in 2012, a year that also kept Moonves ‎in a rarefied group of the nation's most handsomely compensated corporate executives. In 2011, Moonves' compensation was nearly $70 million.
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BUSINESS
March 28, 2008 | From Times Wire Services
CBS Corp. named John Nogawski president of television distribution, responsible for "The Oprah Winfrey Show," "Jeopardy!" and "Dr. Phil." Nogawski will oversee all creative, business and administrative operations for domestic TV syndication, New York-based CBS said. He reports to Chief Executive Leslie Moonves.
ENTERTAINMENT
May 1, 2013 | By Meg James
The lights didn't go out on CBS Corp. during the first quarter. The Super Bowl -- which was marred by a third-quarter power outage that dimmed the lights in the New Orleans Superdome -- helped the broadcasting giant rake in more than $4 billion in revenue in the first quarter. That amounted to a 6% increase compared with the first quarter of 2012 -- and a record haul for the media company. For the quarter that ended March 31, CBS' profit soared nearly 22%. The New York media company earned $463 million, or 73 cents a share, compared with $394 million, or 59 cents a share, a year earlier.
BUSINESS
April 14, 2007 | From Bloomberg News
CBS Corp. paid Chief Executive Leslie Moonves $28.6 million for last year, more than twice what Chairman Sumner Redstone received. Moonves was paid $5.61 million in salary and a $15-million bonus, New York-based CBS said. Redstone got $12.2 million including $3.1 million in salary and a $7.32-million bonus.
BUSINESS
July 1, 2008 | From Times Wire Services
CBS Corp., the U.S. broadcaster controlled by Sumner Redstone, completed its $1.8-billion acquisition of CNet Networks Inc., becoming one of the 10 largest website companies. CNet, along with existing Internet businesses, will form a new digital division led by Quincy Smith, New York-based CBS said. Chief Executive Leslie Moonves sought CNet, owner of GameSpot.com and TV.com, to add Web businesses that are growing faster than the company's television and radio networks.
ENTERTAINMENT
October 8, 2009 | Matea Gold
A New York Supreme Court judge has dismissed a lawsuit that CBS anchor Dan Rather filed in August against CBS Corp. Chief Executive Leslie Moonves and former CBS News President Andrew Heyward, according to court papers filed this week. Citing an appellate court's recent decision to dismiss Rather's original $70-million claim against CBS, Judge Ira Gammerman granted the defense's motion to dismiss a second suit the anchor filed that made similar claims. Rather's attorneys plan to appeal the appellate panel's decision to the Court of Appeals, but there is no guarantee that the court will hear the case.
BUSINESS
January 7, 2009 | TIMES STAFF AND WIRE REPORTS
Responding to a decline in advertiser spending, CBS plans to cut capital spending to $350 million in 2009 from $500 million in 2008, Chief Executive Leslie Moonves said at an investor conference in Phoenix. Moonves' comments came the same day the company announced it had struck a new five-year deal with Time Warner Cable to carry the CBS-owned TV stations and co-owned Showtime pay-TV networks. As part of the agreement, Time Warner obtained the right to include some CBS programming as part of the cable operator's time-shifting and video-on-demand services.
ENTERTAINMENT
September 20, 2012 | By Joe Flint
The last new episode of "I Love Lucy" was broadcast over 50 years ago, but the classic sitcom is still a cash cow for CBS. Speaking at Goldman Sachs Communacopia Conference in New York on Thursday, CBS Chief Executive Leslie Moonves said "I Love Lucy" is still delivering about $20 million in revenue. Reruns of the show still run on a regular basis on the cable channel TV Land.  During much of the interview, Moonves stressed the value of CBS' new and old content, particularly as new platforms such as Netflix and Amazon are spending heavily for product.
ENTERTAINMENT
April 19, 2008 | Matea Gold
Katie Couric isn't going anywhere. That's what CBS Corp. Chief Executive Leslie Moonves told the staff of the "CBS Evening News" during a surprise visit to the newscast's regular Friday midday meeting in New York City. Accompanied by CBS President Sean McManus, Moonves expressed his support for Couric, who has been dogged by reports that she is contemplating exiting her post because of the newscast's low ratings. Executives hoped the upbeat pep talk would rally spirits internally and put to rest questions about Couric's status.
ENTERTAINMENT
March 22, 2013 | By Joe Flint
Looking to expand its cable portfolio, CBS is in talks to acquire a 50% stake in TV Guide Network for about $100 million. Currently co-owned by Lions Gate Entertainment Corp. and One Equity Partners, an investment arm of JPMorgan Chase, TVGN has been on the block for more than a year. CBS would acquire the stake held by One Equity Partners, people familiar with the talks said. An agreement could be announced as early as next week. Although it is distributed in more than 80 million homes, TVGN has struggled in its attempts to become a mainstream entertainment channel.
ENTERTAINMENT
February 14, 2013 | By Meg James
Broadcasting giant CBS Corp. is taking a minority stake in AXS TV, the nascent music-oriented cable channel owned by billionaire Mark Cuban and Los Angeles entertainment giant AEG. CBS will receive an undisclosed interest in the high-definition television channel in exchange for providing programming and marketing to the joint venture. With rights to such prominent events as the Grammy Awards, Broadway's Tony Awards and the Academy of Country Music Awards, CBS can give AXS a front row seat and backstage access that other channels lack.  Major programs will continue to air on the CBS broadcast network, but CBS plans to provide hours of additional coverage to its tentpole events with extras such as red carpet and backstage interviews.  CBS also agreed to promote the channel and its events on CBS' top-rated television network, TV stations, radio stations and even billboards.
ENTERTAINMENT
February 13, 2013 | By Joe Flint
Netflix, Amazon and other digital platforms may be new competition for traditional broadcast and cable networks, but they are also becoming valuable revenue sources as well. On Wednesday, CBS said it was selling more of its library to Amazon for use on its Prime Instant Video Service. This is the second deal this week between the two companies. On Monday, CBS sold rights to stream its upcoming Stephen King miniseries "Under the Dome" just days after episodes air on the network. Shows CBS owns that are headed to Prime Instant include the sitcom "Everybody Loves Raymond" as well the Showtime dramas "The L Word" and "The United States of Tara.
ENTERTAINMENT
December 11, 2012 | By Joe Flint
The long-running fight between CBS and outdoor billboard company Titan for the right to sell advertising on Los Angeles County buses and trains should finally be decided this week. On Thursday, the Los Angeles Metropolitan Transportation Agency's board of directors scheduled a vote to decide between the two companies for a new five-year contract starting in 2013. CBS has bid $110 million for the contract while Titan offered $117 million. Although Titan's bid is higher, the staff of the Los Angeles MTA has twice backed CBS, which has held the contract for more than 30 years.
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.
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
May 1, 2013 | By Meg James
The lights didn't go out on CBS Corp. during the first quarter. The Super Bowl -- which was marred by a third-quarter power outage that dimmed the lights in the New Orleans Superdome -- helped the broadcasting giant rake in more than $4 billion in revenue in the first quarter. That amounted to a 6% increase compared with the first quarter of 2012 -- and a record haul for the media company. For the quarter that ended March 31, CBS' profit soared nearly 22%. The New York media company earned $463 million, or 73 cents a share, compared with $394 million, or 59 cents a share, a year earlier.
BUSINESS
December 9, 2009 | By Meg James
CBS Corp. Chief Executive Leslie Moonves is one happy man. "Life is so much better for us than it was a year ago," he said Tuesday morning at the UBS media conference in New York. "Last year the advertising market was on the ropes, stations were getting socked, and CBS stock seemed to be in a free fall. But CBS' stock is back up and most of its core businesses are humming." Moonves was characteristically upbeat and confident. "I'm tired of reading how network television is down," he said.
ENTERTAINMENT
September 20, 2012 | By Joe Flint
The last new episode of "I Love Lucy" was broadcast over 50 years ago, but the classic sitcom is still a cash cow for CBS. Speaking at Goldman Sachs Communacopia Conference in New York on Thursday, CBS Chief Executive Leslie Moonves said "I Love Lucy" is still delivering about $20 million in revenue. Reruns of the show still run on a regular basis on the cable channel TV Land.  During much of the interview, Moonves stressed the value of CBS' new and old content, particularly as new platforms such as Netflix and Amazon are spending heavily for product.
ENTERTAINMENT
September 12, 2012 | By Joe Flint
Don't look for Showtime to offer an over-the-top alternative anytime soon. Speaking at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference in Beverly Hills on Wednesday, CBS Chief Executive Leslie Moonves, said, "We like the eco-system as it is now. " Showtime is a unit of CBS. Going over-the-top is media industry lingo for offering a cable channel via broadband on an individual basis. As more people gobble up content through digital platforms such as Netflix, there is continuing speculation that down the road pay-cable channels such as HBO and Showtime will move to that model.
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