CBS Corp. President and CEO Les Moonves: Won't Sell out CBS

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Wackbag Staff
Aug 14, 2000
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Moonves: CBS Radio Not For Sale
September 19, 2007

Speaking at the Merrill Lynch Media & Entertainment Conference in Marina del Rey, CA this week, CBS Corp. President and CEO Les Moonves said the company is "happy with the radio division" and has no plans to sell CBS Radio, though it may "trim radio a little more" in the future. While Moonves admitted that CBS Radio has been "challenged" in the last couple of years, he said it still delivers a lot of cash which enables the company to pay dividends and make acquisitions.

He also addressed the matter of iTunes, saying that CBS won't join NBC's battle against Apple over the pricing of television shows on the online store. "We're sort of staying out of the battle," Moonves said, according to Reuters. "We like our relationship with iTunes."

As for large acquisitions, Moonves said the company would consider a buy if the price is right, and CBS also has no plans to spin off its outdoor advertising unit. He added that the company plans to continue its dividend, and said it is possible that it will continue to rise and that CBS would hold more share buybacks.
 

Mindslayer

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May 4, 2006
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He's suing CBS for 70 mil, saying that they violated his contract by not giving him enough airtime on 60 Minutes after he was forced to step down from the newsdesk. He's also saying that CBS used him as a scapegoat to pacify the White House as a result of the Swift Boat debacle.
 

Sinn Fein

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Aug 29, 2002
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Not the swift boat deal, the fake b.s. about GWB's National Guard service...