Viacom

Posted on October 16, 2016 by eamccann

Beth McCann, Divya Yeleswarapu, Hugh Sims

http://hoitalent.com/positions/content-operator/

Viacom Logo [1]

VIACOM, INC.

1515 Broadway, New York, NY 10036

(212) 258-6000

viacom.com

ABOUT

Viacom Networks [3]

American media conglomerate Viacom, Inc. is a media company home to television, cinema, online and mobile networks and brands in over 160 countries and territories, reaching approximately 700 million subscribers around the globe.

Their leading brands include MTV, VH1, CMT, BET, Nickelodeon and its various channels, Comedy Central, Spike, and Paramount Channel. Viacom owns Paramount Pictures as well, which is a major producer and distributor for movies [2].

HISTORY

Viacom and CBS Logos [21]

Viacom got its start in 1971. Viacom acquired its various networks over the course of 30 years, purchasing various channels including MTV, Nickelodeon, and BET. In the 1990s they entered a merger with CBS [4]. However, the two separated into two companies in 2005, now known as CBS Corporation and today’s Viacom Inc. The split was made to separate radio and television from the rest of the company [21]. Today, Viacom continues to create new shows for their various networks and launch new ideas.

CURRENT AND FUTURE MEDIA

Recently, Viacom has been concerned with attracting younger viewers from children’s ages to young adults aged 18-25. They are trying to stay relevant in the developing world of streaming content but still trying to pull in viewers for live shows.

Rocko’s Modern Life Poster [5]

On Nickelodeon, Viacom is attempting to draw in new and old audiences alike with programming reminiscent of shows on in the 1990s. Viacom announced in August they would have an hour long special of the classic 90s Nickelodeon cartoon Rocko’s Modern Life [5].

In October they announced there would be a special of Double Dare, a game show from the 1980s and 1990s [6]. They later said they would be releasing Legends of the Hidden Temple: The Movie to come out based off of the popular 1990s Nickelodeon show [7]. They are attempting to appeal to a younger generation who has never seen this content as well as nostalgic young adults.

Legends of the Hidden Temple: The Movie-Official Trailer [8]

DirectTV Now Logo [15]

Viacom is also launching some of its networks on DirecTV Now, AT&T’s streaming service. They want to deliver more content to fans in more places and allow them to stream content at their own convenience [9].

However, Viacom is also developing tactics to aid in the live viewing experience for consumers. Viacom Labs created what they called a “breakthrough television format” that they hope to launch in 2017 on MTV Music. They have created a TV format that pulls livestreams of fans in a real time feed during the scheduled television show [10]. It creates an interactive and unique experience for fans and will help to motivate people to watch shows in real time rather than stream them days later.

MANAGEMENT

Philippe Dauman-Former CEO and President [11]

Within the last few months, Viacom has gone through some major changes in management. As of August 20^th, Chief Executive Philippe Dauman resigned which ended the legal fight between members of the Viacom board and Redstone’s National Amusements Inc. This is a privately held company that holds 80% of the voting shares of Viacom and CBS Corp. Under the agreement, Dauman received about $72 million and was replaced by previous COO Thomas Dooley who served as interim CEO until the end of Viacom’s fiscal year [16].

Robert Bakish-New CEO of Viacom [12]

Recently, Viacom declared that Robert Bakish will be acting chief executive replacing Tom Dooley. Bakish, a 19-year company veteran who headed the company’s international media networks, has also been named President and CEO of a newly created group called Viacom Global Entertainment Group [17]. The group will run Viacom’s most popular networks including MTV, Comedy Central, VH1, Spike and others [18].

FUTURE OF THE COMPANY

whats-next-for-the-tv-industry-find-out-from-cbs-ceo-les-moonves-at-ignition-2015

Leslie Moonves- CEO of CBS [13]

In terms of Viacom’s future, there is a lot leaning on this merger with CBS. According to The Hollywood Reporter the Viacom special committee who is working exclusively on the merger hopes to wrap everything up by the year’s end [19]. It is planned that CBS Corp. President and CEO Leslie Moonves would eventually oversee the combined entity. However, the company is determined to move forward whether as a stand-alone company or in a potential combination with CBS. Newest interim CEO Bob Bakish has a lot of goals and wants to push the company forward in terms of speed, sharing, and a global outlook. He is planning to invest in new content and to deliver significant audiences on genres other than high-dollar programming. Bakish said, “We’re not going to stand still while the CBS merger is being evaluated. I believe there’s a lot of work we can do in the near-term to make us stronger, no matter what the next chapter of Viacom is. It’s time to move forward [20].”

FINANCES

The first day of trading since the split between Viacom and CBS Corporation showed a 2.8 percent increase in the shares of CBS Corp. to $26.20, and a 1.1 percent increase in the shares of Viacom, to $41.59 [21]. In the current year 2016, they averaged out their most recent 50-day span at $41.47 per share. As of November 2016, Viacom has a 6.1% market share and is among the top 5 competitors in the cable and entertainment industry [24]. Due to the ongoing internal management battle, Viacom’s stock performance has gone down with -8.06% in the last 90 days, compared to the industry average of -0.22%. However, in comparison to CBS Corporation, Walt Disney Company, and Comcast Corporation, Viacom’s recent one day and five day stock performance, 3.58% and 1.4% respectively, has exceeded them all [22].

Viacom 52 Week Share Price [14]

This major media company has had declining performance over the last 11 years, however, it has never made negative profits and instead managed to stay afloat, but the drop in total revenue has been alarming. Over the last year their 52 Week High was $47.17 and their 52 Week Low was $38.61 [23].

Their total revenue has capped off at 13.05 B which is not where they want to be, considering that their profit margin is 15.85% and the typical average for a media company is usually around 23% [22]. In 2012, revenue increased about 16.7% because NBC Universal merged with Comcast Corporation, which provided Viacom with unforeseen and extra production materials, allowing mega growth through 2013 and the year-end stock price to cap off at $87.34 [23].

The revenue has seen a sharp decrease over the last five years by dropping 3.74% and ending the year 2015 with a drop of 44.36% to a monetary outcome of $6.18B as their gross income. It was the lowest value over the defined period. That left them with a free financing cash flow of $2.17B, which was a 12.75% decrease from the previous year 2014. However, the little glimmer of hope that Viacom took from its bleak financials into the current year 2016 is that the net operating cash flow has only been seeing growth over the last five years, and capped at a 17.43% increase coming in [22][24]. Therefore, this media conglomerate has cash to grow and operate its company through the many bumps in the reel.

OVERVIEW

Despite turmoil within the company and stress from the possible CBS, Viacom continues to move forward by creating new content for their networks and trying to reach as large an audience as possible.

SOURCES

[1] Viacom-HoiTalent. Retrieved November 25, 2016. http://hoitalent.com/company/viacom/

[2] About Viacom. Retrieved November 14, 2016. http://www.viacom.com/about/pages/default.aspx

[3] Dampier, Phillip. April 1, 2014. Stop the Cap! Viacom Demands 100% Rate Increases for Hundreds of Small Cable Systems, Military Bases. Retrieved November 14, 2016. http://stopthecap.com/2014/04/01/viacom-demands-100-rate-increases-for-hundreds-of-small-cable-systems-military-bases/

[4] Viacom Timeline. Retrieved November 14, 2016. http://www.viacom.com/about/pages/history.aspx

[5] Acquire Media. August 11, 2016. Nickelodeon Brings Back Rocko’s Modern Life for Brand-New, Original One-Hour TV Special Based on the Classic ‘90s Hit Animated Series. Retrieved November 14, 2016. http://ir.viacom.com/releasedetail.cfm?ReleaseID=984177

[6] Acquire Media. October 6, 2016. Nickelodeon Announces Brand-New Double Dare Special Commemorating Iconic Game Show’s 30th Anniversary Year, Wednesday, Nov. 23, at 9 p.m. (ET/PT). Retrieved November 14, 2016. http://ir.viacom.com/releasedetail.cfm?ReleaseID=992484

[7] Acquire Media. October 6, 2016. Nickelodeon’s Original TV Movie Event, Legends of the Hidden Temple, Bows Saturday, Nov. 26, at 8 P.M. (ET/PT). Retrieved November 14, 2016. http://ir.viacom.com/releasedetail.cfm?ReleaseID=992490

[8] July 23, 2016. Legends of the Hidden Temple: The Movie l First Official Trailer I Nick – YouTube. Retrieved November 25, 2016. https://www.youtube.com/watch?v=U7eHPW7n7Ko

[9] Acquire Media. October 4, 2016. Viacom Networks to Launch on DIRECTV NOW. Retrieved November 14, 2016. http://ir.viacom.com/releasedetail.cfm?ReleaseID=992023

[10] Acquire Media. October 24, 2016. First Ever Livestream-to-TV Format Pioneered by Viacom Labs, Greenlit for On-Air Series. Retrieved November 14, 2016. http://ir.viacom.com/releasedetail.cfm?ReleaseID=995056

[11] January 15, 2015. Viacom Extends Employment Agreement with President and Chief Executive Officer Philippe Dauman Through 2018. Retrieved November 26, 2016. http://www.businesswire.com/news/home/20150115006254/en/Viacom-Extends-Employment-Agreement-President-Chief-Executive

[12] Senior Management. Retrieved November 26, 2016. http://www.viacom.com/about/pages/seniormanagement.aspx

[13] Salem, Yasir. November 19, 2015. What’s next for the TV industry? Find out from CBS CEO Les Moonves at IGNITION 2015. Retrieved November 24, 2016. http://www.businessinsider.com/cbs-ceo-les-moonves-to-speak-at-ignition-2015-7

[14] Viacom, Inc. Retrieved November 26, 2016. https://www.google.com/finance?cid=703770

[15] DirectTV Now Logo. Retrieved November 16, 2016. http://www.multichannel.com/sites/default/files/public/styles/blog_content/public/DirecTV%20Now%20400×300.jpg?itok=Mb9HjA3j

[16] Reuters. August 20, 2016. Viacom Says CEO Dauman to Resign Post Immediately; Dooley Steps In. Retrieved November 12, 2016. http://fortune.com/2016/08/20/viacom-ceo-to-resign-immediately/

[17] Reuters. October 31, 2016. Viacom names Bob Bakish acting CEO. Retrieved November 14, 2016. http://fortune.com/2016/10/31/viacom-has-a-new-acting-ceo/

[18] Yu, Roger. November 1, 2016. Viacom names Bakish as acting CEO. Retrieved November 14, 2016. http://www.usatoday.com/story/money/2016/10/31/viacom-names-bakish-acting-ceo/93083054/

[19] Masters, Kim. November 10, 2016. CBS-Viacom Merger Intrigue as Les Moonves Pushes for Clear Control. Retrieved November 14, 2016. http://www.hollywoodreporter.com/news/cbs-viacom-merger-intrigue-as-les-moonves-pushes-clear-control-945477

[20] Lieberman, David. November 9, 2016. Viacom’s Bob Bakish Vows To Accelerate Growth As It Weighs CBS Merger. Retrieved November 16, 2016. http://deadline.com/2016/11/viacom-bob-bakish-accelerate-growth-plans-consider-cbs-merger-1201851548/

[21] Alfano, Sean. January 3, 2006. CBS, Viacom Formally Split. Retrieved November 16, 2016. http://www.cbsnews.com/news/cbs-viacom-formally-split/

[22] List of VIA’s Competitors and Stock Performance. Retrieved November 16, 2016. http://csimarket.com/stocks/competitionNO2.php?code=VIA

[23] Viacom Inc. – Stock Performance. Retrieved November 16, 2016. http://ir.viacom.com/stockquote.cfm

[24] IBISWorld US – Industry, Company and Business Research Reports and Information. Retrieved November 16, 2016. http://clients1.ibisworld.com/reports/us/industry/majorcompanies.aspx?entid=1245

CBS Corp.

Posted on October 16, 2016 by mnreardo

CBS Corporation

By: Marlowe Reardon, Justin Rivera, and Francesca Sostar

[2] CBS Corporations Logo

Overview

Columbia Broadcasting System, known as CBS Corporation, was founded in 1927 as competition to the National Broadcasting Company (NBC). CBS began as a major contributor in the radio business, then moved into television as that transition of medium was occurring [1].

Divisions of the Company

CBS Corporation branches out to all sorts of media, including radio, television, film, cable, as well as interactive media. The company owns a wide variety of operations such as its own television distribution, consumer products, television studios, home entertainment, and sports networks. CBS also has joint ventures with major companies such as Lionsgate and Warner Bros. Entertainment. Their deal with Warner Bros. allowed them to create the CW, a television network that has produced successful shows such as “Arrow” and “The Vampire Diaries” [3]. The partnership between Lionsgate and CBS led the the development of “Pop”, which combines both major companies talents in programming, production, and distribution.

[13] “Pop” Logo, CBS and Lionsgate joint venture

[14] The CW logo, CBS and Warner Bros Entertainment joint venture

Key Executives

NEW YORK, NY - MAY 15: President & CEO of CBS Corp. Les Moonves attends CBS 2013 Upfront Presentation at The Tent at Lincoln Center on May 15, 2013 in New York City. (Photo by Ben Gabbe/Getty Images)

[4] Leslie Moonves, CEO, Chairman of the Board, and President

[6] Shari E. Redstone, Vice Chairman

[7] Jim Lanzone, Chief Digital Officer

[8] Armando Nuñez, President & CEO-CBS Global Distribution Group

[5] Sumner Redstone, Chairman Emeritus

Finances

CBS is a publicly traded company in the New York Stock Exchange, listed as CBS.A and CBS. Their stock has seen a steady increase over the past year, currently sitting at $60 per share, as opposed to $50 per share a year ago [9]. CBS had a successful third quarter this year, with revenues increasing 4 percent to $3.4 billion. Revenue is up from $3.26 billion at the same time last year. This was due to an increase in revenues and fees from CBS affiliate stations and a growth in their digital distribution platforms. There was also a negative impact in advertising revenue from the Republican and Democratic National Conventions, the first Presidential debate, and the 2016 Summer Olympics [10].

[11] CBS NYSE Closing Bell, 12/9/15.

Some of the largest contributors to CBS’s success are its cable networks, such as Showtime Networks and CBS Sports Network. Their revenue increased 14% to $598 million in this third quarter, growing from $526 million in last year’s third quarter. This aspect of the company will continue to prosper, with the growth in over-the-top (OTT) streaming services across media [12].

Current Projects

Right now, CBS Corporation is attempting to close a deal in which Viacom will merge with CBS. Both Sumner and Shari Redstone, Chairman and Vice Chairman of CBS, are large supporters of the deal. However, what is halting the deal is both companies board of directors have obligations to their shareholders. These shareholders are still exploring the potential problems that could happen if the deal were to be made. Some of these issues include pricing and structure after the merger is made. Even though the deal is still in talks, it is likely that it will happen because a single family, the Redstone’s, own 80 percent of both companies [13].

With the emergence of AT&T’s aggressively priced DirectTV Now (merging internet and television like never before), CBS is left to wonder one question: Why? A deal of this magnitude essentially leaves CBS yearning to somehow affiliate itself with this mega-deal. CBS has already taken the initiative to converge with other prosperous companies, inking a small deal with Google that involves a “skinny bundle” of TV networks to be called YouTube Unplugged. The drive CBS has to concern itself with as many large companies as possible depicts its drive to remain a powerful media conglomerate [14].

[15] Youtube Logo

CBS has been in the preproduction process of a new Star Trek series titled Star Trek: Discovery. This series will only be available on CBS’s online streaming service CBS All Access, after premiering on CBS. The decision to stream the show was made because science fiction shows have historically done poorly on broadcast television. CBS believes that a majority of Star Trek fans will pay for the services of CBS All Access so they will not miss out on the new series. Star Trek: Discovery is said to have a diverse and better represented cast, with a female lead and at least one gay character [16]. The company is hoping that this new series will also bring more viewers to this service, with about 1 million subscribers already. A commercial-free option of CBS All Access is now available, which costs $9.99 a month, as opposed to the ad-supported service costing $5.99 a month [17].

[19] CBS All Access Logo

[18] Star Trek: Discovery Logo

CBS is starting to take similar approaches to that of Netflix. Leslie Moonves stated that he is a big fan of Netflix and is taking some strategies that will help with CBS All Access. Rather than just displaying old shows on All Access, CBS has decided to take the same approach as Netflix by creating its own original shows. They use this strategy in order for their viewers to keep interest in All Access and not cancel their memberships. Previously, there would only be two or three buyers to get content from CBS. Now, streaming services are benefitting CBS Corporation because they can sell their syndicated content to Netflix, as opposed to these two or three buyers.

There has also been continuing success with CBS’s subsidiary, Showtime. Showtime is another over-the-top streaming site, similar to All Access. Moonves is going to make a continual amount of original programming, aiming for once a month released series or seasons. He also wants there to be an increase from about one million to four million subscribers in the next few years [20].

CBS has added six new shows this fall season to their primetime lineup, three comedies and three dramas. The three comedies are Kevin Can Wait, Man With a Plan, and The Great Indoors. These shows have big-name stars, such as Kevin James, Matt LeBlanc, and Joel McHale. The new dramas, Bull, MacGyver, and Pure Genius attract a wide range of audiences due to the differences of the casts. These shows are doing well so far, but time will tell which ones remain on the network and which will not make the cut [21].

mv5bmjiyndgyndy4nl5bml5banbnxkftztgwmdg4ndqwmdi-_v1_ux182_cr00182268_al_

[22] Kevin Can Wait poster

mv5bmtgxmdm0ndaxml5bml5banbnxkftztgwmda5ndqwmdi-_v1_ux182_cr00182268_al_

[23] Pure Genius poster

Future Endeavors

It was announced November 28th that CBS CEO and Chairman Leslie Moonves will be attending the UBS 44th Annual Global Media and Communications Conference in New York City on December 5th for a question-and-answer session [24]. This is a conference where companies join to meet and host formal presentations over a three day period [25].

Two new shows are set to premiere later in the 2016-2017 season on CBS. Training Day and Doubt are both dramas that revolve around crime and the legal system. This will hopefully help the ratings of the other dramas already showing on CBS [26]. The future of CBS Corporation looks very bright, and many changes are set for the upcoming months and years.

SOURCES

[1] https://www.britannica.com/topic/CBS-Corporation,. (2016). CBS Corporation. Retrieved 24 November 2016.

[2] http://logok.org/cbs-logo/,. (2016). CBS Logo. Retrieved 25 November 2016.

[3] https://www.cbscorporation.com/about-cbs/,. (2016). About CBS Corporation. Retrieved 25 November 2016.

[4] http://cdn5.thr.com/sites,. (2016). Leslie Moonves. Retrieved 25 November 2016.

[5] http://www.gannett-cdn.com/-mm-/4f4f62b1d3b58aebf110dff9a65dfa9cb9aa49b4/c=0-171-1994-2830&r=537&c=0-0-534-712/local/-/media/2015/04/16/USATODAY/USATODAY/635647883968561121-Sumner-Redstone.jpg,. (2016). Sumner Redstone Picture. Retrieved 25 November 2016

[6] http://www.zimbio.com/photos/Shari+E.+Redstone,. (2016). Shari E. Redstone Photo Stream. Retrieved 25 November 2016.

[7] http://www.cbscorporation.com/2016/06/jim-lanzone-named-chief-digital-officer-of-cbs-corporation/,. (2016). Jim Lanzone named Chief Digital Officer of CBS Corporation. Retrieved 25 November 2016.

[8] https://www.cbspressexpress.com/cbs-studios-international/executives/view?id=241,. (2016). Armando Nunez. Executives. Retrieved 25 November 2016.

[9] https://finance.yahoo.com/quote/CBS?p=CBS,. (2016). CBS Corporation Finances. Retrieved 26 November 2016.

[10] http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzU3MzQyfENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=63613799985568029,. (2016). CBS Annual Results. Retrieved 26 November 2016.

[11] http://www.gettyimages.com/event/the-talk-rings-the-closing-bell-at-the-new-york-stock-exchange-595510127?#sheryl-underwood-sara-gilbert-shahttps://youtu.be/bqm9HSYbf0oron-osbourne-aisha-tyler-and-julie-picture-id500711866,. (2016). CBS’ “The Talk” Rings The Closing Bell At The New York Stock Exchange. Retrieved 26 November 2016.

[12] http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzU3MzQyfENoaWxkSUQ9LTF8VHlwZT0z&t=1&cb=636137999855680291,. (2016). CBS Annual Results. Retrieved 26 November 2016.

[13] http://www.investopedia.com/stock-analysis/111716/heres-whats-holding-viacomcbs-merger-cbs-viab.aspx,. (2016). Here’s What’s Holding Up the Viacom-CBS Merger. Retrieved 26 November 2016.

[14] http://variety.com/2016/digital/news/cbs-directv-now-launch-att-1201925053/,. (2016). CBS Won’t Be in DirecTV Now at Launch, but Talks With AT&T Continue. Retrieved 25 November 2016.

[15] https://www.youtube.com/yt/brand/downloads.html,. (2016). Youtube Logo. Retrieved 26 November 2016.

[16] http://www.avclub.com/article/cbs-admits-star-trek-discovery-wouldnt-cut-it-netw-245919,. (2016). CBS admits Star Trek: Discovery wouldn’t cut it on broadcast TV. Retrieved 26 November 2016.

[17] http://variety.com/2016/tv/news/star-trek-discovery-good-wife-spinoff-cbs-all-access-premiere-date-1201860613/,. (2016). ‘Star Trek: Discovery’ Delayed on CBS All Access Until May, ‘Good Wife’ Spinoff Moved Up. Retrieved 26 November 2016.https://youtu.be/bqm9HSYbf0o

[18] http://www.cheatsheet.com/,. (2016). Star Trek: Discovery Logo. Retrieved 27 November 2016.

[19] https://wwwimage-secure.cbsstatic.com,. (2016). CBS All Access Logo. Retrieved 27 November 2016.

[20] http://www.fool.com/investing/2016/10/01/why-cbs-corporation-is-a-big-fan-of-netflix.aspx,. (2016). Why CBS Corporation Is a Big Fan of Netflix. Retrieved 27 November 2016.

[21] http://www.cbs.com/shows/cbs-fall-premieres-2016/news/1005234/get-a-first-look-at-the-2016-2017-cbs-primetime-lineup/,. (2016). Get a first look at the 2016 2017 cbs primetime line up. Retrieved 28 November 2016.

[22] https://images-na.ssl-images-amazon.com/images/M/MV5BMjIyNDgyNDY4Nl5BMl5BanBnXkFtZTgwMDg4NDQwMDI@._V1_UX182_CR0,0,182,268_AL_.jpg,. (2016). Kevin Can’t Wait Poster. Retrieved 28 November 2016.

[23] https://images-na.ssl-images-amazon.com/images/M/MV5BMTgxMDM0NDAxMl5BMl5BanBnXkFtZTgwMDA5NDQwMDI@._V1_UX182_CR0,0,182,268_AL_.jpg,. (2016). Pure Genius Poster. Retrieved 28 November 2016.

[24] http://www.cbscorporation.com/2016/11/cbs-corporation-chairman-and-chief-executive-officer-leslie-moonves-to-participate-in-the-ubs-44th-annual-global-media-and-communications-conference/,. (2016). CBS Corporation and Chairman and Chief Executive Officer Leslie Moonves to Participate in the 44th Annual UBS Global Media and Communications Conference. Retriever 28 November 2016.

[25] https://www.ubs.com/global/en/investment-bank/key-investor-conferences/global.html,. (2016). Global 2016 Conferences. Retrieved 28 November 2016.

[26] http://www.cbs.com/shows/cbs-fall-premieres-2016/news/1005234/get-a-first-look-at-the-2016-2017-cbs-primetime-lineup/,. (2016). CBS Fall Lineup. Retrieved 28 November 2016.

CBS Radio

Posted on February 18, 2016 by Rachel Lipsitz

By: Rachel Lipsitz

CBS Radio logo [1]

Contact Information [2]

1271 Avenue of the Americas FL 44

New York, NY 10020

212.649.9600

Cbsradio.com

Key Executives [3]

Andre Fernandez, President

Scott Herman, Chief Operating Officer

Ezra Kucharz, President, Local Digital Media

Chris Oliviero, Executive Vice President, Programming

Jo Ann Haller, Senior Vice President and General Counsel

Bob Phillips, Senior Vice President and Director of Sales

Overview

CBS Radio is the nation’s number 2 radio group, including 117 stations, 26 of which are in the largest radio markets in the country. In 2015 alone, CBS radio estimated generating around $1.3 billion in revenue[4]. CBS Radio’s geographically dispersed stations serve to target many different demographics through a broad range of formats, including: rock, classic, adult contemporary, top 40, sports and country [5].

History

CBS Radio was created as a radio network in 1927. From 22 stations that started to air in 1928, the company grew to 114 stations in just a single decade and by 1932 was earning an annual profit of $3 million [6]. In the late 1940s, CBS Radio was able come out on top due to its development of long-playing records by its Columbia Records division. In 1995, Westinghouse Electric Corporation acquired CBS for $5.4 billion. In 1997, Westinghouse changed the name of his new company to CBS Corporation and moved its headquarters from Pittsburgh to New York City [7]. In 1999, entertainment conglomerate Viacom announced that it was taking over CBS in a deal worth $37 billion, but only lasted until 2005 when CBS split into two, where CBS Radio became a part of CBS Corporation under its broadcasting division [8].

Competitors

iHeartMedia logo [29]

Emmis Communications logo [30]

Entercom Communications logo [31]

CBS Radio has four direct competitors: Emmis Communications, Entercom Communications, iHeartMedia and Cumulus Media. CBS Radio competes within their respective markets for audience, advertising revenues and programming with other radio stations [9]. These company’s radio stations, which also include their online internet streaming services, compete with services like Spotify and Pandora.

Financials

CBS Interactive Stock Chart from Yahoo Finance updated April 23, 2016 at 3:30 pm [10]

CBS Corporation is a publicly traded company and on April 23, 2016, was traded at $56.59 per share, which is is down from last years price, which was $60.63 per share. Right now, the company’s stock value lies between the 52 week low of $38.51 per share and the 52 week high of $63.95 per share [11].

The majority of CBS Radio’s revenues are generated from the sales of local and national advertising [12]. In 2015, CBS Radio’s radio revenue decreased by 6% and took a $484 million write-down on the value of its FCC radio licenses [13].

Financials CBS Radio of Local Broadcasting [14]

Due to the fact that CBS Radio is a subsidiary of CBS Corporation, the financials for the radio division are combined with the financials for the local broadcasting television division.The Local Broadcasting revenues for the fourth quarter of 2015 were $719 million. CBS Radio revenues were down 5%, which reflected the continued decrease in the radio advertising marketplace [15].

CBS Sports Radio

CBS Sports Radio Logo [34]

CBS Sports Radio was launched in January 2013 and offers 24/7 national sports coverage and programming to over 330 stations, including stations in all of the top 10 markets. CBS Sports has many different programs across across multiple weekdays and weekend time periods that feature expert sports commentary by very experienced broadcasters [16].

98.5 The Sports Hub [33]

Most recently, CBS Radio’s 98.5 The Sports Hub finished first overall during the three-month winter Nielsen Audio Ratings period as sports talk continued to dominate the Boston radio market [17]. The Sports Hub earned an 11.8 share overall from the period of December 31 to March 23, which is a higher than the station got last winter, when the New England Patriots were in the SuperBowl [18].

CBS Corporation Potentially Getting Rid of Radio Division

Leslie Moonves, Chairman and CEO of CBS Corporation [35]

CBS Chairman and CEO, Leslie Moonves, recently made a public announcement about exploring other options for CBS Radio due to the fact that it is no longer the crown jewel of the company. Some of the options that Moonves is referring to is either spinning off the radio divisions as a separate company or selling the stations as a whole [19].

“We have 117 radio stations and we think that will be a great standalone company. As a standalone high-cash, relatively low-growth business, it will do really really well and it’ll do better as a standalone than part of the other divisions of CBS” [20].

-Leslie Moonves

On March 30, 2016, Andre Fernandez sent a memo to the CBS Radio staff informing them what was discussed in a meeting with Leslie Moonves, regarding the future of the company. In the memo, Fernandez tells the staff that the primary course of action by CBS Corporation is to split CBS Radio off via an IPO [21]. By making CBS Radio an IPO, the goal would be to become their own publicly traded company, which would allow the radio division to define their own operating strategy. The memo also stated that there are other options that are being explored for how the company should handle the situation: there is the possibility that CBS Radio will become part of another company [22].

Due to the fact that CBS Radio has acquired many assets throughout the decades, the company should have major tax consequences depending on how the sale of the division is structured [23].

Some Restructuring Within the Company

Karen Mateo, SVP/Communications, who has played an integral part at CBS Radio’s management division for 13 years, announced that she will be leaving the company.

Todd Cavanah was recently named the new vice president of programming for CBS Radio Chicago. Cavanah will be in charge of program oversight for the six Chicago radio outlets and will be in charge of identifying opportunities to improve ratings, which are directly connected to each station’s ability to generate ad revenue [24].

Chad Fitzsimmons was promoted to VP of Music Initiatives at CBS Radio. His new position will put him in charge of creation and execution of CBS Radio’s concert series, which includes We Can Survive and The Night Before [25].

“The exponential growth and critical acclaim that our national events have experienced over the last few years is a direct result of Chad’s vision and passion for the unique and powerful marriage of radio and the music industry” [26].

-Chris Oliviero

2016 Regional Edward R. Murrow Awards

Edward R. Murrow Awards logo [36]

At the 2016 Regional Edward R. Murrow Awards, The Radio Television Digital News Association announced the winners, where 11 respected CBS Radio stations received a total of 25 awards. Stations in San Francisco and Philadelphia were honored with the Overall Excellence award for Large Market Radio stations [27].

“It brings me great pride to see our stations recognized for their continued excellence in journalism. Telling the stories that mean something to the local communities we serve has been the hallmark of CBS Radio for decades, and that long standing commitment to our audience is the foundation upon everything we do as broadcasters” [28].

-Leslie Moonves

Future

Considering the recent announcement that CBS Radio is thinking about becoming an IPO, the future of the company can be going in a few different directions. Throughout the coming weeks and months, people will be keeping a close eye on what Leslie Moonves and Andre Fernandez decide to do with the company, and how much of their decision they decide to share with the public and with their investors. The fact that CBS Radio is making new management changes gives hope to many that the structure of the company should not change much if they decide to become an IPO, but watching what happens in the future with CBS Radio and CBS Corporation will be interesting.

Sources

CBS Radio: Houston @ Dave Farra. Retrieved April 24, 2016.
CBS Radio Contant Information. Retrieved April 24, 2016.
CBS Radio Executives. Retrieved April 24, 2016.
Fitch Expects CBS Radio To Remain Sound. Retrieved April 24, 2016.
CBS Corporation, Investor Relations, SEC Filings. Page 10. Retrieved April 24, 2016.
Erickson, Harold. January 26, 2016. CBS Corporation. Britannica. April 24, 2016.
Columbia Broadcasting System. Retrieved April 24, 2016.
Columbia Broadcasting System. Retrieved April 24, 2016.
CBS Corporation, Investor Relations, SEC Filings. Page 11. Retrieved April 24, 2016.
CBS Interactive Stock Chart. Retrieved April 23, 2016.
CBS Historical Stock Quotes. Retrieved April 24, 2016.
CBS Corporation, Investor Relations, SEC Filings. Page 11. Retrieved April 24, 2016.
Kelps, Kevin. April 10, 2016. Radio Dials Up Doubt For Stations. Crain’s Cleveland Business. April 24, 2016.
CBS Corporation, Investor Relations, SEC Filings. Page 20. Retrieved April 24, 2016.
CBS Corporation, Investor Relations, SEC Filings. Page 20. Retrieved April 24, 2016.
CBS Sports Radio, About Us. Retrieved April 24, 2016.
Finn, Chad. April 13, 2016. Sports Hub Dominates Latest Boston Radio Ratings. Boston Globe. April 24, 2016.
Finn, Chad. April 13, 2016. Sports Hub Dominates Latest Boston Radio Ratings. Boston Globe. April 24, 2016.
Wagoner, Richard. March 25, 2016. Is CBS Getting Rid of its Entire Radio Division? Daily News. April 24, 2016.
Moonves: CBS Radio Will Do Better On Its Own. Retrieved April 24, 2106.
Andre Fernandez Addresses the Future of CBS Radio in an Email to Staffers. Retrieved April 24, 2016.
Andre Fernandez Addresses the Future of CBS Radio in an Email to Staffers. Retrieved April 24, 2016.
Morgan, Richard. March 31, 2016. CBS Plans to Spin Off Radio Business With an IPO. NY Post. April 24, 2016.
Lazare, Lewis. April 21, 2016. CBS Radio Adds New Management Layer to Chicago Programming Ranks. Chicago Business Journal. April 24, 2016.
CBS Radio Promotes Fitzsimmons. Retrieved April 24, 2016.
Chad Fitzsimmons Elevated to VP/Music Initiatives at CBS Radio. Retrieved April 24, 2016.
Ross, Kevin. April 19, 2016. CBS Radio Stations Honored with 25 2016 Regional Edward R. Murrow Awards. Radio Facts. April 24, 2016.
CBS Radio, Press Room. Retrieved April 24, 2016.
iHeartMedia Logo. Retrieved April 25, 2016.
Emmis Communications Logo. Retrieved April 25, 2016.
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Cumulus Media Logo. Retrieved April 25, 2016.
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CBS Sports Radio Logo. Retrieved April 25, 2016.
Leslie Moonves Executive Picture. Retrieved April 25, 2016.
Edward R. Murrow Awards Logo. Retrieved April 25, 2016.

CBS Corp. #1

Posted on December 2, 2015 by Taylor Smith

Taylor Smith

CBS. Corporation Logo [16]

Headquarters:
51 W. 52nd Street
New York, New York, 10019
1-212-975-4321
http://www.cbscorporation.com/index.php

Key Executives:

Sumner M. Redstone,
Executive Chairman [17]

Leslie Moonves,
President and Chief Executive Officer [18]

Anthony Ambrosio,
Senior Executive Vice President, Chief Administrative Officer and Chief Human Resources Officer [19]

About:
CBS Corporation is a widely known mass media company that runs operations in various entertainment and media fields, such as cable, publishing, radio, film, local TV, and interactive media. They are especially well-known in the television industry, owning the current most-watched television network in the country [1]. The CBS Television Network currently owns more than 200 television stations and affiliates across the country. They have several programs that are number one in their respective categories; for example, the #1 sitcom, The Big Bang Theory, the #1 newsmagazine, 60 Minutes, the #1 scripted/drama program, NCIS, and the #1 daytime drama, The Young and the Restless [2]. Their television holdings include CBS Television Network, the CW (a joint venture with Warner Bros. Entertainment), CBS Television Studios, Showtime Networks, CBS Sports Network, Pop (a joint venture with Lionsgate), Smithsonian Networks, and several more [1]. Overall, CBS Television Stations is made up of 29 stations, with 16 as a part of the CBS Television Network, 8 affiliates of the CW Network, 3 independent stations, and two MyNetworkTV affiliates [3].

History:

CBS Corp. “Eye” Logo – Source: Hub Magazine [20]

CBS’s brand, “the Eye,” as seen in their logo, is extremely recognizable in the industry today. This is in part due to CBS having the most watched television network in the U.S., as well as owning one of the largest entertainment libraries in the world, and several other factors. The public awareness of CBS can be seen today in the number of #1 television programs that CBS runs on their Television Network [1].
CBS was founded by William Paley in 1928. That year, Paley purchased 16 independent radio stations, calling them the Columbia Broadcast System [2]. The company experienced several name changes throughout the years, changing to CBS Inc. in 1974, and later to CBS Corporation in 1997, several years after being acquired by Westinghouse Electric Corporation. CBS started as a predominately radio-based company, before adding television to the corporation in the late 1940s. At this point, CBS Television was known as the “Tiffany Network,” and did very well against its competition [4].

Financials:
CBS is a publicly traded company. On November 19th, 2015, CBS stock was being traded for $51.75. This marks a steady increase in stock value after the stock hit its lowest point on September 28th, 2015 when it was being traded for $38.67. The value has been steadily increasing since then, with the value on November 19th representing the highest value in the last three months [5]. CBS released their third quarter results for 2015 on November 3rd. They reported that their revenues for this quarter were $3.26 billion in comparison to same prior-year period when their revenues were $3.37 billion. They relate this decrease in revenue to the timing of television licensing sales, as well as decreases in lower-margin revenues [6].

Current Programming:

Supergirl Preview [21]
This fall, on October 26th, CBS premiered the highly anticipated television show, Supergirl. The premiere did very well, with an average viewership of 12.9 million, and a 3.1 rating [7]. These high numbers led to the Supergirl premiere being the most watched television show of the fall. The success of the premiere could be due to the late premiere date, leading to a lack of competition with other new shows. The premiere also benefited from directly following CBS’s hit show The Big Bang Theory [8]. However, the ratings for the following weeks have been steadily declining, reaching its’ lowest point in it’s fifth week, on November 23rd, with a rating of 1.5. This is less than 50% of the premiere’s ratings [9].
Supergirl has also been in the news recently because November 16th episode. CBS made the decision to swap out the planned episode for the Thanksgiving special in response to the terrorist attacks that took place in Paris on November 13th. That week’s planned episode had focused on a series of bombings in National City, so the decision was made to postpone the episode due to similarities to the terror in Paris. CBS also pulled that week’s episode of NCIS: Los Angeles because it focused on recruitment methods employed by the Islamic State, which claimed responsibility for the Paris attacks [10].

OTT Services:

CBS All Access – CBS’ new OTT Service – Source: Variety.com [22]

CBS has announced several deals that contribute to their effort to shift with the industry. CBS recently announced that they will start offering a streaming program, called CBS All Access, that will allow viewers to watch many of their programs without a pay-TV subscription. CBS All Access will stream full seasons of most of CBS’s current shows, as well as some of their older content. This service will cost $5.99 per month. New episodes of their current shows will be available the day after they originally air. On CBS’ full-episode streaming app, which is free, new episodes are not available until eight days after the episode originally airs. A benefit to CBS All Access is that older seasons of programs will have 25% less advertisement time than when they aired. Another unique factor of CBS All Access is that they will include live streaming of local CBS TV stations, and allow viewers to stream any of those stations live as if they were watching it on television [11].
On October 1st, CBS announced a deal with Amazon that will give Amazon Prime the exclusive streaming rights to three of CBS’s new summer series through 2018. The deal will also expand the CBS programs that will be available on Amazon Prime. The first summer series that will be available on Amazon Prime is Braindead, which will be available for streaming four days after the initial broadcast [12].

Star Trek:

Star Trek on CBS All Access – Source: TechTimes.com [23]

CBS announced on November 2nd, 2015 that they will be launching a new Star Trek television series that will premiere in January 2017. The first episode of the new series will premiere on CBS’s broadcast network, and then transition exclusively to CBS All Access [13]. Having the program available only on CBS All Access is an attempt to draw viewers and attention to the new streaming service. Star Trek will be the first scripted program that will be produced specifically for CBS All Access. CBS All Access also currently offers every Star Trek series which, according to Leslie Moonves, are currently doing very well on the streaming platform [14]. However, CBS Studios International will eventually distribute the new series other other TV networks and digital platforms. The series will be produced by Alex Kurtzman, who previously worked on J.J. Abram’s Star Trek and Star Trek Into Darkness, and Heather Kadin, who previously was an executive producer for Limitless [15]. The series will introduce new characters, new civilizations, and explore contemporary themes, which has been a staple of the franchise since it’s premiere [14]. The target audience of this new series is the fans that have already been watching the older series on CBS All Access, and CBS is hoping that they will easily transition to watching the new series as well.

Sources:

[1] CBS Company Overview. Cbscorporation.com, retrieved 23 November 2015.

[2] CBS Television Network Portfolio. Cbscorporation.com, retrieved 23 November 2015.

[3] CBS Television Stations Portfolio. Cbscorporation.com, retrieved 23 November 2015.

[4] CBS Corporation. Britannica.com, retrieved 23 November 2015.

[5] CBS Corporation Finances. Google Finance, retrieved 23 November 2015.

[6] CBS’ Third Quarter Results. Investors.cbscorporation.com, retrieved 23 November 2015.

[7] Broadcast Ratings Oct. 26 – Nov. 1. Tvbythenumbers.com, retrieved 23 November 2015.

[8] “‘Supergirl’ Soars to Big Ratings for CBS”. Money.cnn.com, retrieved 23 November 2015.

[9] “New Show Power Rankings, Week 5: ‘Supergirl’ is Flying Less High”. Tvbythenumbers.com, retrieved 23 November 2015.

[10] “CBS Pulls Terror Episodes of ‘Supergirl’ and ‘NCIS: Los Angeles’ After Paris Attacks”. Latimes.com, retrieved 23 November 2015.

[11] “CBS Starts Offering Its Signal Over the Web as Over-the-Top Gates Open”. Adage.com, retrieved 23 November 2015.

[12] CBS and Amazon Press Release. Cbscorporation.com, retrieved 23 November 2015.

[13] “Why CBS’s New Star Trek Show is a Glimpse Into TV’s Future”. Tv.com, retrieved 23 November 2015

[14] “Leslie Moonves Explains Why ‘Star Trek’ Went to CBS All Access”. Hollywoodreporter.com, retrieved 23 November 2015.

[15] “CBS is Bringing Back Star Trek, but it Won’t Air on TV”. Adweek.com, retrieved 23 November 2015.

[16] CBS Corporation Logo. Images.bwwstatic.com, retrieved 23 November 2015.

[17] Sumner M. Redstone Biography Page. Cbscorporation.com, retrieved 23 November 2015.

[18] Leslie Moonves Biography Page. Cbscorporation.com, retrieved 23 November 2015.

[19] Anthony G. Ambrosio Biography Page. Cbscorporation.com, retrieved 23 November 2015.

[20] CBS ‘Eye’ Logo. Hubmagazine.com, retrieved 23 November 2015.

[21] “‘Supergirl’ What You Can Expect This Season”. Cbs.com, retrieved 23 November 2015.

[22] CBS All Access Logo. Variety.com, retrieved 23 November 2015.

[23] Star Trek Image. Techtimes.com, retrieved 23 November 2015.

CBS Corp. (TV broadcast & cable properties only)

Link

by  PATTY TERHUNE

CBS Corporation Logo – photo courtesy of imgarcade.com (1)

Headquarters

51 W. 52nd Street

New York, NY 10019-6188

1-212-975-4321

www.cbscorporation.com

Key Executives

Sumner Redstone, Executive Chairman (2)

Leslie Moonves, President and Chief Executive Officer, CBS Corporation (3)

Anthony G. Ambrosio, Senior Executive Vice President, Chief Administrative Officer and Chief Human Resources Officer, CBS Corporation (4)

About

CBS Corporations holds the most watched television network in the U.S., CBS Broadcast Network, and is one of the largest players in creating global content (5). While the company’s holdings span nearly every medium (cable, publishing, radio, film and more), they play a particularly strong roll in television. They have 29 television holdings including CBS, CBS Sports Network, The Smithsonian Channel, The CW (a 50/50 joint venture with Time Warner’s Warner Bros.), Decades (a 50/50 joint venture with Weigel Broadcasting), Pop (a 50/50 joint venture with Lionsgate), and the Showtime Networks (6). The CBS Network is home to the #1 drama scripted program, NCIS, the #1 sitcom, The Big Bang Theory, the #1 newsmagazine, 60 Minutes, and the #1 daytime drama, The Young and the Restless (7).

The CBS “Eye” Logo – photo courtesy of logos.wikia.com (8)

History

CBS Corporation, often referred to as “The Eye Corporation” because of the company’s memorable logo, was founded in 1941. The company started as a radio heavyweight in 1927. The company was also formerly known as “The Tiffany Network” since the company maintained such a high quality of programming under its founder William S. Paley (9). The company has held many official names over time. However, in its time as a broadcast network it has only gone by three names. From 1928 until 1974 it held the name Columbia Broadcasting System, Inc. In 1974 it was shortened to CBS Inc. As of 1997 the official company name is CBS Corporations (10).

Viacom’s logo – courtesy of cbsnews.com (13)

In 2000 Viacom purchased CBS (11). This is particularly noteworthy as Viacom was originally created as a spin-off of CBS in 1971 (12). However, in 2005, Viacom split itself into two entities, keeping Viacom and CBS Corporation separate. Sumner Redstone, who is a heavy hitter in media as both the chairman of National Amusements and the Executive Chairman of Viacom, still currently owns CBS.

The CBS Building in New York City – image courtesy of digitaltrends.com (14)

Financials

CBS is traded on the NASDAQ under the abbreviation CBS. As of April 16th, 2015 the stock was being traded for $61.78. At a record low on September 9^th, 2009 the stock was being traded for $3.06. Since then the stock as been increasing and is currently within a dollar of its highest asking price ever (15). The fourth quarter revenues for 2014 were up 3% from last quarter, hitting $3.7 billion and the diluted earnings per share were up 8% to $.77. This was CBS Corporation’s best fourth quarter revenue and diluted EPS to date (16).

Channel News

The Harris Poll logo – courtesy of whatsupwiththat.com (17)

Television Network Brand of the Year in 2015 Harris Poll Equitrend Study

The Harris Poll Equitrend Study is an annual study conducted by Harris Poll on brand equity. The EquiTrend Brand Equity Index rates companies on their familiarity, quality and consideration. The Harris Polls have become a staple in the media industry – due to its ability to give relevant insights to the industry after comprehensive and precise public opinion polling. In its 27^th annual study in 2015, CBS Corporations took home first place (7).

Showtime’s Logo – courtesy of sho.com (18)

Bell Media and CBS Corporation Announce Long-Term Contract To Bring Showtime to Canada

For the first time, Showtime and the entirety of its media content will be brought the Canada. In an unprecedented deal between Bell Media and CBS Corporation, hundreds of hours of past, present and future Showtime programming will be brought the Canada and accessible on all Bell Media platforms. This will open up hundreds of thousands of new potential consumers for the already esteemed network (19).

CBS All Access – courtesy of slashgear.com (20)

CBS All Access Meets with Affiliates

In mid-April, CBS met with affiliates to discuss their over-the-top streaming service, CBS All Access. Among these affiliates was Steve Hammel, VP and general manager at Capital Broadcasting’s WRAL Raleigh. He, as well as other affiliates, was optimistic about the future of the service and seemed willing to work together to increase the reach of both themselves and the network. However, like many, he said that he would wait until more information was available to opt-in. As of last month, the service has 100,000 subscribers. Currently, a dozen station groups, as well as all stations owned-and-operated by CBS, are on board, representing 55% of all households (21).

CBS Studios – image courtesy of onelip.com (22)

Company News

Viewers to Volunteers logo – image courtesy of cbsaltitudegroup.com (23)

CBS-Toyota Charity App

Viewers to Volunteers, or V2V, is a Toyota sponsored app run by CBS where viewers can give to charity without needing to open their wallet. Viewers watch short video clips, like a CBS news clip about Toyota or a documentary-type clip about a local area hospital, to gain credits. These credits can be exchanged for donations to causes like the Special Olympics or Meals on Wheels America, which CBS will make. CBS is advertising the application on four CBS owned-and-operated stations, as well as by collaborating with non-profit partners such as the Starlight Children’s Foundation to help expand reach. The application premiered nationally in April (24).

Nielsen’s logo – image courtesy of evigo.com (25)

Data-Driven Initiative for Network Advertisers

CBS has introduced a new-data driven style to analyzing the effectiveness of advertising. They are called it the Campaign Performance Audit or CPA. They have been trialing this technique on specific advertisers since last fall. However, they are now opening it up to all advertisers that are looking to take advantage of Nielsen analytics to make sure that they get the best return on investment in the company (26).

David Rhodes – image courtesy of cbsnews.com (27)

David Rhodes Extends Contract as President of CBS News through 2019

CBS News President David Rhodes who has held the position since 2011, will continue as president of the news division of CBS until 2019. Rhodes was one of the creators of CBS This Morning and also helped to expand Face the Nation with Bob Schieffer and is credited with helping it become the #1 Sunday Public Affairs Show. In addition to his work in broadcast, he also spearheaded CBSN, which is the first digitial streaming news network and has made major contributions the news on CBSNews.com and on CBS News Radio (28).

Interns Tour CBS Channel 2 in NYC – image courtesy of red-pr.com (29)

CBS Corporation and CBS Radio being Sued By Former Intern

Former CBS Radio intern Camille Demere, who was an intern into 2009-2010, filed a class-action-seeking complaint in January of 2015 for unfair treatment as an intern by being “excluded from minimum wage.” In March the company responded by saying that they want the entire case thrown out. They also requested that the court deny every request that the Plaintiff (Demere) had, and reimburse the Defendant (CBS Corp.) for all costs spent in defending the law suit (30).

Sources

(1) “CBS Logo,” Imgrarcade, RT: 4/17/15

(2) “Sumner Redstone,” CBS Corp, RT: 4/17/15

(3) “Leslie Moonves,” CBS Corp, RT: 4/17/15

(4) “Anthony G. Ambrosio,” CBS Corp, RT: 4/17/15

(5) “About CBS,” CBS Corp, RT: 4/17/15

(6) “Who Owns The Media?” FreePress, RT: 4/17/15

(7) “2015 Brand of the Year,” CBS Corp, RT: 4/17/15

(8) “CBS Eye,” Logos.wikia, RT: 4/17/15

(9) “Creator: CBS,” TVTropes, RT: 4/17/15

(10) “CBS Corporation,” Encyclopedia Brittanica, RT: 4/17/15

(11) “Viacom Set to Acquire CBS,” Partners.NYTimes, RT: 4/17/15

(12) “Viacom Inc. History,” FundingUniverse, RT: 4/17/15

(13) “Viacom Makes Split Official,” CBSNews, RT: 4/17/15

(14) “Transaction in Own Shares,” Article.wn, RT: 4/17/15

(15) “CBS,” Nasdaq, RT: 4/17/15

(16) “Investor Relations,” CBS Corp, RT: 4/17/15

(17) “Harris Polls,” Whatsupwiththat, RT: 4/17/15

(18) “Showtime,” Sho, RT: 4/17/15

(19) “CBS, Bell Media Pact,” Deadline, RT: 4/17/15

(20) “CBS All Access,” Slashgear, RT: 4/17/15

(21) “CBS Station Chiefs Ponder All Access Offer,” BroadcastingCable, RT: 4/17/15

(22) “Judge Throws Out Fraud Claim,” Onelip, RT: 4/17/15

(23) “Turning Viewers into Volunteers at CBS,” CBS Altitude Group, RT: 4/17/15

(24) “CBS Unveils Charity App,” Wall Street Journal, RT: 4/17/15

(25) “US Nielsen,” Evigo, RT: 4/17/15

(26) “CBS Introduces New Data-Driven Initiative,” CBS Corp, RT: 4/17/15

(27) “David Rhodes,” CBS News, RT: 4/17/15

(28) “CBS Announces New Agreement,” CBS Corp, RT: 4/17/15

(29) “CBS Sued Over Unpaid Internships,” Red-Pr, RT: 4/17/15

(30) “CBS Spurns Intern Lawsuit,” Deadline, RT: 4/17/15

CBS Corp. (TV broadcast & cable properties only)

Posted on November 17, 2014 by Emily Norman

by Emily Norman

CBS Corporation

Brief History

Classic CBS Logo. [1]

Founded in 1927 by Arthur Judson as an alternative to NBC, the Columbia Broadcasting System has been delivering news and entertainment for nearly a century. CBS has flourished in the realm of television, as it produced hits such as The Andy Griffith Show (1960-1968), M*A*S*H (1972-1983), and 60 Minutes (1968-). In 1995, the company was sold to Westinghouse Electric Corporation for about $5 billion. Today, Westinghouse is known as CBS Corporation [2].

Corporate Information

Key Executives

Sumner M. Redstone, Courtesy of cbscorporation.com

Sumner M. Redstone, Executive Chairman. [3]

Leslie Moonves, President and Chief Executive Officer, Courtesy of cbscorporation.com

Leslie Moonves, President and Chief Executive Officer. [4]

Anthony G. Ambrosio, Senior Executive Vice President. [5]

Financials

For the 2014 third quarter, CBS announced a revenue of $3.37 billion, which is up 2% from the 2013 third quarter. Similarly, advertising revenue also grew 2%, due to Thursday Night Football as well as midterm elections. However, the company’s adjusted net earnings were just $400 million, down $31 million from the year before. Also during the third quarter, CBS bought back just under seven million shares of its own stock for about $400 million [6]. As of November 28th, 2014, the price of one share was $54.88. This was just above of its 52-week low of $48.83 [7].

Broadcast Programming

CBS Daytime Programming

The Cast of The Young and the Restless. [8]

CBS has always excelled in the world of daytime drama. Now, in 2014, it is the only broadcast network to feature more than one soap opera: The Young and the Restless (1973-) and The Bold and the Beautiful (1987-). The Young and the Restless saw a 1.3 rating for the 18-49 demo this past September, which is up 8% from March. This bump in viewership is accredited to the return of Shemar Moore [9]. Meanwhile, its sister-soap, The Bold and the Beautiful, featured a pair of cross-over episodes with Big Brother in celebration of Halloween [10]. Both these daytime dramas have performed spectacularly, routinely beating out NBC’s Days of Our Lives and ABC’s General Hospital [11].

Soap Opera Ratings for the Week of November 3rd – November 7th, 2014. [11]

CBS Primetime Programming

The Cast of Scorpion. [12]

For the 2014-2015 season, CBS launched five new series in the fall. The majority of the new shows are hour-long dramas, including Scorpion, Stalker, Madam Secretary, and the second spin-off of the hit series NCIS, NCIS: NEW ORLEANS. CBS only launched one new sitcom this fall: The McCarthys [13]. Of these new series, Scorpion is performing the best, with an average 18-49 demo rating of 2.47 as of November 19th, 2014. At the bottom of the pack is the network’s lone rookie sitcom, The McCarthys, which is averaging a rating of about 1.51 in the same demo, making it susceptible to cancelation [14]. None of CBS’ new launches have been canceled as of November 20th, 2014 [15].

The Cast of The Big Bang Theory. [16]

The network boasts The Big Bang Theory as one of its top ratings giants. Now in its eighth season, the sitcom is consistently one of the highest-rated shows of the week, earning a whopping 4.5 in the 18-49 demo the week of November 10th [17]. The series has already been renewed for a ninth season [15]. Now in its twelfth season, NCIS has consistently ranked high in overall viewership; for the week of November 10th, the series boasted over 17 million viewers, trailing just behind the 20 million that NBC’s coverage of Sunday Night Football brought in [17]. The 2014-2015 season also marks the end of two of the network’s major veteran shows: Two and a Half Men and The Mentalist. After having lost two of its leading men, Two and a Half Men reached an all-time low average of 10.66 million viewers for its eleventh season, and, while 10 million viewers is still an impressive figure, the show has run its course and will go off the air in May [18]. The Mentalist garnered around 11.5 million viewers in its previous season. It has been speculated that, should these numbers remain impressive throughout the show’s shortened 13-episode-long final season, Warner Brothers could shop the show to other networks [19].

CBS’ Average Ratings for the 2014-2015 Season, As of November 19th, 2014. [14]

Additional Properties Programming

The CW Programming

Grant Gustin as The Flash. [20]

The joint venture of Time Warner and CBS, The CW has been a staple in young adult programming since 2006 [21]. For the 2014-2015 season, The CW launched two new series: The Flash and Jane the Virgin [22]. The Flash garnered nearly seven million viewers in the Live+7 ratings for its October premiere, making it the most watched piece of television that the network has ever aired [23]. Meanwhile, Jane the Virgin has accumulated critical acclaim for introducing diversity to The CW’s lineup [24]. Both The Flash and Jane the Virgin were picked up for full-season orders on October 21st [25].

The Cast of Supernatural. [26]

Supernatural, which began as a WB series in 2005, recently celebrated not only the debut of its tenth season, but also its 200th episode, which garnered the show’s highest ratings since the season premiere: 2.92 million viewers in the Live+3 category [27]. The network has also decreed that a 22nd cycle of America’s Next Top Model be commissioned for the 2015 season [28]. As of Friday, November 14th, the show’s current cycle holds a 0.4 in the 18-49 demo [29].

The CW's Average Ratings, As of November 19th, 2014.

The CW’s Average Ratings for the 2014-2015 Season, As of November 19th, 2014. [30]

Showtime Programming

Kyle MacLachlan as Agent Dale Cooper on Twin Peaks. [31]

CBS’ cable holding, Showtime, announced this fall its intentions to resurrect Twin Peaks, which ran from 1990-1991 on ABC. Showtime will air the original 30 episodes ahead of the new series, which will consist of nine episodes. The continuation of Twin Peaks will debut in 2016 [32]. In the meantime, Showtime continues to experience success with its critically-acclaimed series Homeland. The series garnered a season-best 1.66 million viewers on November 16th, however, when all platforms are taken into account, the series is averaging well over 5 million viewers on a weekly basis. Meanwhile, The Affair, which airs in the slot following Homeland, delivered roughly 778,000 viewers that same evening, up 16% from the previous week. As with Homeland, multi-platform viewing accounts for a significant portion of its viewership, resulting in a total number of 3.8 million viewers [33].

Showtime’s Average Ratings for the 2014-2015 Season, As of November 19th, 2014.

Showtime’s Average Ratings, As of November 19th, 2014. [34]

Current Events

CBS All Access

This fall, CBS became the first broadcast network to begin offering a streaming service akin to HBO’s service. This product is called CBS All Access and costs subscribers $5.99 a month. That being said, as of October 16th, the service is only offered in seven US markets, and does not feature NFL games. CBS All Access offers customers a wide array of both current series and canceled series [35].

CBS New York’s Coverage of CBS All Access. Click for Full Video. [36]

Dispute with Dish

In November of 2014, CBS experienced a dispute with Dish TV over negotiations. The companies’ previous contract was signed in January of 2012, and was set to expire by the end of November, however, CBS, along with other major broadcast networks, filed a lawsuit against Dish, citing their ad-skipping feature as the main source of conflict. The feature, which allows the customer to automatically skip over commercials, also prompted an attempt on CBS’ behalf to break their current contract with the satellite company [37]. With multiple Owned & Operated stations on the verge of being blacked out to Dish customers, both companies agreed to a deadline-extension on their current contract; as of November 26th, the extension will reach into early December, prompting further negotiation, while the O&O stations still air their programming [38].

Sources

[1] CBS Logo. Retrieved November 18, 2014, from http://awfulannouncing.com/2013/cbs-sports-chairman-sean-mcmanus-on-that-other-pregame-show-concussions-and-fantasy-football.html

[2] CBS Corporation. Retrieved November 18, 2014, from http://www.britannica.com/EBchecked/topic/100876/CBS-Corporation

[3] Sumner M. Redstone. Retrieved November 18, 2014, from http://www.cbscorporation.com/ourcompany-executives.php?id=&exec=156

[4] Leslie Moonves. Retrieved November 18, 2014, from http://www.cbscorporation.com/ourcompany-executives.php?id=&exec=150

[5] Anthony G. Ambrosio. Retrieved November 18, 2014, from http://www.cbscorporation.com/ourcompany-executives.php?id=&exec=135

[6] Investor Relations – Financial and Stock Information. Retrieved November 28, 2014, from http://investors.cbscorporation.com/phoenix.zhtml?c=99462&p=quarterlyearnings

[7] Investor Relations – Stock Quote. Retrieved November 28, from http://investors.cbscorporation.com/phoenix.zhtml?c=99462&p=irol-shareowner_stockquote

[8] The Cast of The Young and the Restless. Retrieved November 18, 2014, from http://en.wikipedia.org/wiki/The_Young_and_the_Restless

[9] Big Ratings for Y&R. Retrieved November 18, 2014, from http://www.cbs.com/shows/the_young_and_the_restless/news/1003158/

[10] B&B & Big Brother Spooktacular. Retrieved November 18, 2014, from http://www.cbs.com/shows/the_bold_and_the_beautiful/news_blog/1003342/

[11] Soap Opera Ratings. Retrieved November 18, 2014, from http://tvbythenumbers.zap2it.com/2014/11/15/soap-opera-ratings-the-young-the-restless-the-bold-the-beautiful-general-hospital-up-in-women-18-49-viewers/327190/

[12] The Cast of Scorpion. Retrieved November 19, 2014, from http://www.cbs.com/shows/scorpion/about/

[13] CBS Fall TV Schedule 2014. Retrieved November 19, 2014, from http://tvline.com/2014/05/14/cbs-fall-tv-lineup-2014-the-big-bang-theory-monday/

[14] CBS 2014-15 Season Ratings. Retrieved November 20, 2014, from http://tvseriesfinale.com/tv-show/cbs-2014-15-season-ratings-33998/

[15] CBS Predictions. Retrieved November 20, 2014, from http://tvbythenumbers.zap2it.com/2014/11/18/cbs-predictions-stalker-is-a-toss-up-to-be-canceled-or-renewed/327282/

[16] The Cast of The Big Bang Theory. Retrieved November 18, 2014, from http://www.movieweb.com/movies-you-havent-seen-with-the-cast-of-the-big-bang-theory

[17] TV Ratings Broadcast Top 25. Retrieved November 19, 2014, from http://tvbythenumbers.zap2it.com/2014/11/18/tv-ratings-broadcast-top-25-sunday-night-football-tops-week-8-with-adults-18-49/329077/

[18] ‘Two and a Half Men’ Final Season. Retrieved November 20, 2014, from http://www.ibtimes.com/two-half-men-final-season-how-show-survived-losing-charlie-sheen-why-season-12-last-1716310

[19] ‘The Mentalist’ to end on CBS. Retrieved November 20, 2014, from http://insidetv.ew.com/2014/11/04/the-mentalist-canceled/

[20] Grant Gustin as The Flash. Retrieved November 18, 2014, from http://www.comicvine.com/articles/big-change-to-flash-s-role-in-arrow-update/1100-147601/

[21] The CW. Retrieved November 18, 2014, from http://www.cbscorporation.com/portfolio.php?division=95

[22] The CW’s Fall Schedule. Retrieved November 18, 2014, from http://tvline.com/2014/06/25/cw-fall-tv-schedule-2014-arrow-vampire-diaries/

[23] ‘The Flash’ Premiere Ratings. Retrieved November 18, 2014, from http://deadline.com/2014/10/the-flash-ratings-premiere-most-watched-cw-863045/

[24] ‘Jane the Virgin’ is The CW’s Best Show Ever. Retrieved November 18, 2014, from http://www.thedailybeast.com/articles/2014/10/28/jane-the-virgin-is-the-cw-s-best-show-ever.html

[25] ‘The Flash’ ‘Jane the Virgin’ Get Full Season Orders. Retrieved November 18, 2014, from http://www.hollywoodreporter.com/live-feed/flash-jane-virgin-get-full-739683

[26] The Cast of Supernatural. Retrieved November 19, 2014, from http://www.denofgeek.com/tv/supernatural/29404/supernatural-spin-off-casts-its-leads

[27] The CW’s ‘The Flash’ and 200th Episode of ‘Supernatural’. Retrieved November 19, 2014, from http://tvbythenumbers.zap2it.com/2014/11/16/the-cws-the-flash-and-200th-episode-of-supernatural-hit-best-ratings-since-season-premiere-in-live-3-ratings/328353/

[28] America’s Next Top Model Renewed. Retrieved November 19, 2014, from http://variety.com/2014/tv/news/americas-next-top-model-renewed-the-cw-1201358635/

[29] Friday TV Ratings. Retrieved November 19, 2014, from http://tvseriesfinale.com/tv-show/friday-tv-ratings-last-man-standing-antm-amazing-race-grimm-shark-tank-34732/

[30] CW 2014-2015 Season Ratings. Retrieved November 19, 2014, from http://tvseriesfinale.com/tv-show/cw-2014-15-season-ratings-34237/

[31] Kye MacLachlan as Agent Dale Cooper. Retrieved November 19, 2014, from http://inthetreesartpreview.blogspot.com

[32] Cult Favorite ‘Twin Peaks’ to Return. Retrieved November 19, 2014, from http://www.whas11.com/story/entertainment/2014/10/20/15980076/

[33] Showtime’s ‘Homeland,’ ‘The Affair’ Continue Ratings Rise. Retrieved November 19, 2014, from http://variety.com/2014/tv/ratings/showtimes-homeland-the-affair-continue-ratings-rise-1201359488/

[34] Showtime’s Average Ratings. Retrieved November 20, 2014, from http://tvseriesfinale.com/tv-show/showtime-tv-show-ratings-33448/

[35] HBO, CBS Set Up Streaming Service. Retrieved November 20, 2014, from http://movienewsguide.com/hbo-cbs-set-streaming-service/34363

[36] CBS Offers Digital Subscription Service. Retrieved November 20, 2014, from https://www.youtube.com/watch?v=2xBLol05Uh8

[37] Dish Could Lose 16 CBS Stations In Fee Fight. Retrieved November 28, 2014, from http://www.tvpredictions.com/dish110314.htm

[38] Dish Extends CBS Deal Another Week. Retrieved November 28, 2014, from http://adage.com/article/media/dish-extends-cbs-deal-week-standoff-looms/296014/

CBS Corp. (TV broadcast & cable properties only)

Link

by Mike Liebenson

[1] CBS Logo

CBS Headquarters
51 W. 52nd Street
New York, NY 10019-6188
1-212-975-4321 [1.5]

KEY EXECUTIVES

[2] Leslie Moonves- President and Chief Executive Officer, CBS Corporation

[3] Sumner M Redstone- Executive Chairman

[4] Joseph Ianniello- Chief Operating Officer

[5] Anthony G. Ambrosio, Senior Executive Vice President, Human Resources and Administration, CBS Corporation.

OVERVIEW

CBS Corporation is an industry-leading mass media company that creates and distributes content across a multiple platforms to audiences worldwide. Spanning virtually every field of media and entertainment, CBS’s operations include cable, film, radio, publishing, local TV, and interactive/social media. [6]

Network Portfolio

[7] All of CBS’s Assets

CBS is home to one of the world’s largest libraries of media content, making it one of the most recognized brands in business. Specific to television, CBS’s businesses include CBS Television Network, The CW, Showtime Networks, TVGN, CBS Sports Network, Smithsonian Networks, CBS Television Studios, and CBS Television Stations [6].

CBS CURRENT FALL SEASON

[8] One of the Thursday Night Football games featuring San Diego at Denver.

The 2015 season has been kind to “The Big Eye,” with the network averaging 12.2 million viewers daily. This puts the network ahead of every other network, with NBC trailing behind at 9.8 million [9]. Part of this is due to their addition of Thursday Night Football to their fall line-up. Each week their installment of football, which replaced conventional series for the first two months of the season, topped Thursday nights for total viewership. The final game aired earned a 13.2 rating and 23 percent share [10]. That’s slightly less than the all-time high overnight household rating of 13.7 when the season opened on September 11. While Thursday Night Football has done well, analysts projected it to do even better. Yesterday RBC Capital Markets’ David Bank dropped his earnings forecast for CBS by 27 cents to $3.07 because of the ratings letdown [8].

Newcomers

Among CBS’s five other newcomers for the 2014-2015 season, only one was a half-hour sitcom. The Mccarthys, which debuted 1.7/5 in the 18-49 share and 8.08 total million viewers [12], but has fallen to 1.4 and 6.53 total million viewers [13].

[11] First Look

Of the four dramas that premiered this season, consisting of Madame Secretary, Scorpion, NCIS: New Orleans, and Stalker, Scorpion has the strongest for the 18-49 share while the NCIS spin off has the highest overall views. Scorpion debuted at 3.2 share, but has decreased to a low 1.9 as of their 11/24 episode [14].

[15] First Look

NCIS New Orleans debuted at 17.37 million views, and as kept most of its view with their most current episode garnering 14.47 million views. NCIS: New Orleans, along with its predecessor, both skew older and target viewers above the age of 50 [16]. All four of the new dramas have been picked up for full seasons as of 10/28/14 [17].

[18] First Look

Returning Shows

[19] The cast of The Big Bang Theory

Of its current series, CBS boasts the most watched scripted series by both total views and 18-49 shares. The Big Bang Theory, which moved back to Thursdays as of 11/20, has consistently had highest 18-49 share for a scripted series with their most current rating averaging a 4.1 as of 11/25 [20]. Their eighth year’s average is lower so far than their past season, which averaged a 5.1 rating in the 18-49 demographic with 17.65 million total viewers. The series is renewed until season 10, though, with higher salaries for their lead actors as well [21].

[23] The cast of NCIS

NCIS captures the most viewers for a scripted series every week with their 11/25 episode garnering 16 million viewers. This season is also down from last, with their 11th season of NCIS averaged a 2.8 rating in the 18-49 demographic with 18.5 million total viewers [22]. Even with their top shows dipping in the numbers slightly, CBS is maintaining a steady flow of cash revenue.

FINANCIALS

[24] 2014 Q3 earnings for CBS

CBS is publicly held. As of their 2014 third quarter report, CBS’s shares rose 2.3% from $3.30 billion in 2013 to $3.37 billion now [24]. This was mostly thanks to a 4% increase in content licensing and distribution revenues from higher domestic and international licensing of their television programming. The main Entertainment unit, which includes the CBS TV network and studios, saw a 1% increase in revenues to $1.91 billion. Thanks to the political revenues of the midterm elections and their introduction to Thursday Night Football on CBS, the corporation saw their advertising revenue increase by 2%. In cable networks, like Showtime, revenues were up 5% to $624 million due to the company’s increased rates and increased cash flow from license agreements for its original series [25]. As of December 1 at 4:02 pm, CBS’s stock closed at $54.47, a .75% decrease from the day before [26].

MAJOR HAPPENINGS

CBS All Access

[27]

On October 16, 2014 CBS announced a first for any of the major traditional broadcast networks; subscription based multi-platform access to their content called CBS All Access [28]. For $5.99, the network will offer subscribers episodes from their current and classic shows on-demand across computers, tablets, and smartphones. Subscribers will also have the ability to live stream local CBS television stations in 14 of the most popular U.S. markets; And that number will only grow [28]. The most important amenity of this new service is that customers do not have to be subscribers of a cable or satellite company to access this service; They just need to pay their subscription to seamlessly interact with CBS’s content across their multiple platforms.

TVGN to POP

[29] Redesigned Logo

The TV Guide Network, a joint venture between CBS Corp. and Lionsgate, is planning to receive a major facelift in January of 2015. TVGN will be rebranded as POP, a network centered on the celebration of American fan boy culture [30]. The theme has a much more unique POV, allowing the channel to look at anything that draws on the experience of high intensity fans. POP will launch with more than 400 hours of original programming, featuring A New Kids on The Block reality series, a scripted series, entertainment news, red-carpet specials, and other exciting new content. One series in particular, The Story Behind, will look inside the origin stories of successful hit series [29]. CBS is hoping to be able to obtain more money a month per subscriber. The current TVGN commands two cents a month in comparison to networks garnered towards similar audiences, like E!, that get 24 cents a month per subscriber. Their hopes extend to increased ad revenue as well, since it is on the smaller side [30].

CBS vs. Dish Dispute

[31]

Tensions are rising between CBS and the no. 2 Satellite Distributor over this past month. On November 14, CBS reached out to Dish Network subscribers to inform them of the impending loss of their affiliated channels due an unresolved deal between the two companies after their carriage contract expires at the end of November. CBS has extended the deadline twice, with their deal now supposed to close by the end of the first week in December [31]. The deal seems to me more about rights over CBS content rather than financial issues, specificaly Dish’s ability to include it in the over-the-top service that it aims to launch as well as offering out-of-home viewing rights to their subscribers. There is been concern over Dish’s Hopper DVR service that allows users to record large amounts of primetime with one button. The rollout of this new DVR launched lawsuits against Dish by the major broadcasters, not just CBS [32].

Works Cited

[1] CBS Logo, Deadline.com, RT: 12/1/14

[1.5] CBS Contact, cbscorporation.com, RT: 12/1/14

[2] Photo of Leslie Moonves, cbscorporation.com, RT: 12/1/14

[3] Photo of Sumner Redstone, cbscorporation.com, RT: 12/1/14

[4] Photo of Joseph Ianniello, cbscorporation.com, RT: 12/1/14

[5] Photo of Anthony Ambosio, cbscorporation.com, RT: 12/1/14

[6] About CBS, cbscorporation.com, RT: 12/1/14

[7] Assets of CBS, cbscorporation.com, RT: 12/1/14

[8] Photo of Thursday Night Football, deadline.com, RT: 12/1/14

[9] CBS 2014-2015 Ratings, tvseriesfinale.com, RT: 12/1/14

[10] ‘Thursday Night Football’ Ends on High Note, hollywoodreporter.com, RT: 12/1/14

[11] The Mccarthy’s- First Look, youtube.com, RT: 12/1/14

[12] Thursday Final Ratings (10/31), tvbythenumbers.zap2it.com, RT: 12/1/14

[13] Thursday Final Ratings (11/25), tvbythenumbers.zap2it.com, RT: 12/1/14

[14] Scorpion: Season One Ratings, tvseriesfinale.com, RT: 12/1/14

[15] Scorpion- First Look, youtube.com, RT: 12/1/14

[16] NCIS: New Orleans: Season One Ratings, tvseriesfinale.com, RT: 12/1/14

[17] NCIS: New Orleans, Scorpion, Madam Secretary, Stalker: CBS Orders Full Seasons, tvseriesfinale.com, RT: 12/1/14

[18] NCIS: New Orleans- First Look, youtube.com, RT: 12/1/14

[19] The Big Bang Theory Cast Photo, moviepilot.com, RT: 12/1/14

[20] The Big Bang Theory: Season Eight Ratings, tvseriesfinale.com, RT: 12/1/14

[21] ‘Big Bang Theory’ Renewed Through Season 10, hollywoodreporter.com, RT: 12/1/14

[22] NCIS: Season Twelve Ratings, tvseriesfinale.com, RT: 12/1/14

[23] NCIS Cast Photo, jenniferbadger.com, RT: 12/1/14

[24] CBS Corporation Earnings Release, cbscorporation.com, RT: 12/1/14

[25] CBS Narrowly Beats Q3 Earnings Estimates, deadline.com, RT: 12/1/14

[26] CBS Interactive Stock Chart, finance.yahoo.com, RT: 12/1/14

[27] CBS Offers Digital Subscription Service, youtube.com, RT: 12/1/14

[28] CBS New Multi-Platform Digital Subscription Service, cbscorporation.com, RT: 12/1/14

[29] Meet POP, variety.com, RT: 12/1/14

[30] TV Guide Network To Relaunch In Early 2015 As POP, variety.com, RT: 12/1/14

[31] CBS Will Star on Dish Through the Weekend, deadline.com, RT: 12/1/14

[32] Carriage Talks Progress, variety.com, RT: 12/1/14

CBS Corps.

Posted on March 26, 2014 by Maggie O'Reilly

By Maggie O'Reilly

CBS Corporation

CBS Logo, photo courtesy of forbes.com

CBS Headquarters
51 W. 52nd Street
New York, NY 10019-6188
1-212-975-43211-212-975-4321

http://www.cbscorporation.com/

About CBS Corporation [1]

CBS Corporation is a mass media corporation, primarily operated in the United States. Originally founded as Viacom in 1971, the modern-day CBS Corporation is the result the 2005 split of Viacom into two publicly traded companies. With the split, CBS Corporation retained the rights to all CBS broadcast networks as well as pay-cable stations. Their current television assets include CBS, Showtime, and CBS Sports Network. They also have a 50/50 share of the CW with Time Warner’s Warner Bros division.

Key Executives [2]

Sumner M. Redstone, photo courtesy of CBS Corporate website

Sumner M. Redstone: Sumner M. Redstone serves as Chairman of the Board of both CBS Corporation and Viacom. He assumed these roles after the 2005 split of Viacom into two separate companies. Prior to the split, Redstone had served as Chairman of the Board of Viacom since 1987 and CEO of Viacom since 1996. Currently, he is the controlling shareholder of both companies.

Leslie Moonves, photo courtesy of CBS Corporate website

Leslie Moonves: Leslie Moonves is President and Chief Executive Officer of CBS Corporation. He was was named CEO of CBS Corporation upon its creation in 2005. Prior to this, he had served as CEO of CBS Television since 1998 and was briefly Co-President and Co-Chief Operating Officer of Viacom from 2004 to 2005.

Financials

CBS Corporation has been publicly traded on the New York Stock Exchange since January 3, 2006. On March 6th, 2014, their stock price hit an all time high, reaching $67.55. Since then, the stock price has been steadily decreasing. Their current stock price is $60.64.[3]

photo courtesy of nasdaq.com

In the 2013 fiscal year, CBS earned revenues of $15.3 billion with net earnings of
1.9 billion, a strong 19.4% increase from their 2012 net earnings. At the end of the 2013 fiscal year, CBS Corporation’s assets were valued at 26.4 billion while their debts are currently calculated at roughly 6.5 billion. [4]

Assets [5]

.CBS: The CBS broadcast network, formerly the Columbia Broadcasting System, first launched as a radio network in 1927. Currently, CBS is one of the “Big Four” television networks, competing with NBC, ABC, and FOX.

.Showtime: CBS Corporation’s premium-cable channel, Showtime, launched on July 1, 1976. The original Showtime channel has served as a flagship for Showtime Networks, which now consists of over 10 premium cable channels, including The Movie Channel, FLIX, and Smithsonian Networks.

The CW: The CW was launched on September 18, 2006. The CW is the result of merger between UPN (formerly operated by CBS) and the WB (formerly operated by Warner Bros). The CW’s target demographic skews a bit younger than CBS and Showtime networks.

CBS Sports: CBS Sports is sports-oriented cable channel that was originally launched as the National College Sports Network in 2002. In 2011, the channel was re-branded as CBS Sports Network. The channel currently airs the PGA tour, US tennis, NCAA basketball, and college football.

Top Rated Programming

The CBS Television Network, has been #1 in total viewers for 10 of the past 11 years. [6] This is largely due to CBS’s successful prime-time lineup. Currently, CBS airs television’s #1 drama, NCIS. During the first week of February 2014 sweeps, NCIS brought in an impressive 19.53 viewers. CBS also airs several other acclaimed television dramas, including NCIS: Los Angeles, Blue Bloods, and Person of Interest. [7]

Cast of NCIS, photo courtesy of nbcpressexpress.com

CBS is also home to television’s #1 sitcom, The Big Bang Theory. In the first week of February 2014 sweeps, The Big Bang Theory drew in 17.53 million viewer whereas ABC’s best performing sitcom, Modern Family, only attracted 9.87 million viewers. CBS also airs several other incredibly successful sitcoms, including 2 Broke Girls, Mike & Molly, and Two and a Half Men. [8] [9]

Cast of The Big Bang Theory, photo courtesy of nbcpressexpress.com

In the week of April 7th, 2014, it was reported by Nielsen that 7 of the weeks top 10 broadcasts aired on CBS, helping to further cement CBS as the top rated channel on television. [10]

CBS in the News

How I Met Your Mother Ends Legendary Nine Year Run

Cast of How I Met Your Mother, photo courtest of cbspressexpress.com

Cast of How I Met Your Mother, photo courtesy of cbspressexpress.com

CBS’s long running sitcom, How I Met Your Mother, came to an end on March 31st, 2014 after nine successful seasons. The series followed the lives of main character, Ted Mosby, and his group of friends living in Manhattan. During How I Met Your Mother’s nine season run, it received 28 Emmy Award nominations, of which it won 9. The series also turned several of its stars into household names, including Neil Patrick Harris and Jason Segel. The series finale was met with mixed reviews from critics and fans. While some praised the finale for tying up loose ends, others were left disappointed, believing that the writers disregarded nine seasons of character development. Despite the mixed reaction, How I Met Your Mother’s series finale was the highest rated episode of the series, drawing in 13.13 million total viewers. It was also the #1 18-49 broadcast during the week that it aired, with a 5.4 rating. [11] [12] [13] [14]

NCAA Basketball Tournament Draws In Big Numbers for CBS

NCAA Division I Championship Game, photo courtesy of CBS philadelphia

The NCAA Division I Men’s Basketball championship game aired on CBS on April 7th, 2014, drawing in an impressive 21.2 million viewers and a 7.2 rating in the 18-49 demo. However, the UConn vs Kentucky game did not beat the numbers of the 2013 championship game between Louisville and Michigan, which brought in 23.4 million viewers. The rest of the tournament games averaged 9.3 million viewers, which is a 3% increase over 2013 numbers. [15] [16]

David Letterman Announces Late Show Retirement, Stephen Colbert Named as Replacement

Long time Late Show host David Letterman announced his retirement from the program on April 3rd, 2014. Letterman, who has hosted the show since August 1993, will leave his position as host of the Late Show when his contract expires in 2015. The news of his retirement comes not long after the retirement of his foremost late night competitor, Jay Leno, who hosted his last episode of NBC’s The Tonight Show on February 6, 2014. Jay Leno has since been succeeded by the much younger Jimmy Fallon, who has been averaging an impressive 1.53 rating in viewers 18-49 since taking over. Comparatively, Letterman has been averaging a .56 rating in the same time period. [17] [18]

Stephen Colbert (left) and David Letterman (right), photo courtesy of yahoo.com

On April 10th, 2014, CBS announced that they plan to replace David Letterman with Stephen Colbert, who currently hosts The Colbert Report on Comedy Central. Interestingly, The Colbert Report has also been averaging a .56 rating among 18-49 year olds. Reactions to CBS’s decision to bring Stephen Colbert on as host of The Late Show have been mixed. While many agree that Colbert is definitely comedically competent enough to take over The Late Show desk, some wonder if CBS missed an opportunity to change the current trajectory of late night. [19] [20]

On The Horizon

CBS Renews Most of its Lineup
CBS recently renewed 18 of its current programs, including favorites like The Big Bang Theory, The Good Wife, Elementary, and Two and a Half Men. CBS also renewed several newcomers, including The Millers and Mom. [21]

current CBS schedule, courtesy of cbs.com

Thursday Night Football
In February, CBS won the bid to air Thursday night football this upcoming fall. This will certainly affect their current schedule, as their #1 sitcom, The Big Bang Theory, currently airs on Thursday nights. Nevertheless, CBS plans to broadcast eight Thursday night games this fall. [22]

Sources

[1] CBS Corp, About CBS, Retrieved April 15th, 2014

[2] CBS Corp, Executives, Retrieved April 15th, 2014

[3] Google Finance, CBS, Retrieved April 20th, 2014

[4] CBS Corp, SEC Filings 2014 10-k Annual Report, Retrieved April 15th 2014

[5] CBS Corp, “Our Portfolio” Retrieved April 15th, 2014

[6] CBS Corp, “Leslie Moonves” Retrieved April 15th, 2014

[7] TV by the Numbers, “Tuesday Final Ratings: ‘NCIS’, ‘Marvel’s Agents of S.H.I.E.L.D.’ & ‘The Originals’ Adjusted Up; ‘NCIS: Los Angeles’, ‘ The Goldbergs’. ‘Supernatural’ & ‘Trophy Wife’ Adjusted Down” Retrieved April 15th, 2014

[8] TV by the Numbers, “Thursday Final Ratings: ‘The Big Bang Theory’, ‘American Idol’, ‘Two and a Half Men’ & the Olympics Adjusted Up; ‘The Millers’ Adjusted Down” Retrieved April 15th, 2014

[9] TV by the Numbers, “Wednesday Final Ratings: ‘Super Fun NIght’ Adjusted Down”, Retrieved April 15th, 2014

[10] Nielsen, Top Ten, Retrieved April 20th, 2014

[11] TV by the Numbers, “TV Ratings Broadcast Top 25: ‘How I Met Your Mother’ Tops Week 28 With Adults 18-49; ‘The Big Bang Theory’ Leads Total Viewers” Retrieved April 18th, 2014

[12] Time, “How I Met Your Mother Watch: Mate and Switch”, Retrieved April 18th, 2014

[13] The Guardian, “How I Met Your Mother: the latest show to fail in the search for a perfect ending” Retrieved April 18th, 2014

[14] DailyMail, “SPOILER ALERT: A wedding, a funeral and a French horn… How I Met Your Mother delivers a legendary series finale” Retrieved April 18th, 2014

[15] Forbes, “March Madness Ratings and Revenue Keep Reaching New Heights” Retrieved April 20th, 2014

[16] CBS, “2014 NCAA Division I Men’s Basketball Championship Averaging 9.3 Million Total Viewers; Highest Viewership in 21 Years”, Retrieved April 20th, 2014

[17] The Wall Street Journal, “David Letterman Announces Retirement from CBS’s ‘Late Show'”, Retrieved April 20th, 2014

[18] TV by the Numbers, “Late Night TV Ratings For April 7-April 11, 2014”, Retrieved April 20th, 2014.

[19] CBS, “CBS ANNOUNCES STEPHEN COLBERT AS THE NEXT HOST OF THE “LATE SHOW”, Retrieved April 20th, 2014.

[20] USA Today, “Will real Colbert be a loser on ‘Late Show’?”, Retrieved April 20th, 2014

[21] The Hollywood Reporter, “CBS Renews 18 More Shows for 2014-15 Season”, Retrieved April 20th, 2014

[22] CBS Sports, “CBS to broadcast eight Thursday night football games in 2014”, Retrieved April 20th, 2014.

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CBS Films

Posted on November 17, 2013 by Losa Meru

By Losa Amara Meru

- Photo Courtesy of collider.com [a]

CBS Films was established in 2007. Located in Brentwood, Los Angeles, the feature film studio is dedicated to managing the development, financing, production, and marketing of quality motion pictures that span all genres. Currently, they release 4 – 6 movies each year. Their reach includes global distribution with partners as well as self-distributed titles in the US.

What sets CBS Films apart is the budget size of the movies they produce and acquire. The pictures they release cost under $50 million each; they aim to reach the middle ground in between expensive franchise films, low-budget experimental art films, and “genre” films.

Their tagline is “A feature film studio releasing quality films in all genres.”

To date, the studio currently has nine released pictures. [1] [2]

Social Media Contact

Facebook || Twitter || Tumblr

Key Executives

Wolfgang Hammer, Co-President

Photo Courtesy of 5dinstitute.org [b]

Wolfgang Hammer began as Vice President of Production at Media Rights Capital, then became Executive Vice President of Lionsgate Motion Picture Group, then moved to CBS Films and became the COO, and is now currently the Co-President of CBS Films. Wolfgang Hammer oversees finance, business, legal affairs, and acquisitions of the company. His specific contributions include overseeing the the acquisitions “Salmon Fishing in the Yemen,” “The Woman in Black,” and “The Words.” He also oversaw the co-financing and distribution deal for the Martin McDonagh film “Seven Psychopaths,” a 2012 British crime comedy starring Christopher Walken, Woody Harrelson, Sam Rockwell, and Colin Farrell. [1] [3]

Terry Press, Co-President

Photo Courtesy of hollywoodreporter.com [c]

Terry Press previously served as the head of marketing for DreamWorks SKG and the principal of 7570 Marketing, Inc. before becoming the Co-President of CBS Films. A much sought after marketing consultant, she has consulted on CBS Films “The Mechanic,” “Salmon Fishing in the Yemen,” and “The Woman in Black,” as well as films such as “The Social Network,” “Julie & Julia,” “Valkyrie,” and “The Hunger Games,” which grossed $687 million worldwide under her leadership. In 2012, she was ranked on The Hollywood Reporter’s Women in Entertainment Power 100. Currently, she oversees distribution, marketing, creative, and physical production for CBS Films. [1] [4]

Financial Information

As CBS Films is a division of its parent company, CBS Corporation, there is no specific financial information available for the studio. However, financial information regarding CBS Corporation’s Entertainment division is available, which encompasses CBS Television Network, CBS Interactive, CBS Global Distribution, CBS Television Studios, and CBS Films.

Third Quarter Revenue (2013): $1.88 Billion

Third Quarter Revenue (2011): $1.63 Billion

Percent Increase (over 2 years): 15.3%

The growth in revenue from the Entertainment division has been positive due to the result of higher domestic licensing revenues, growth in network affiliation fees, the first-cycle availabilities of The Good Wife and NCIS: Los Angeles, and an increase in advertising revenues driven by the CBS Television Network. This positive growth allows CBS Films to have sufficient funds and resources to continue its quality film releases.

The chart below is indicative of CBS Corporation’s financial status as a whole (not just the Entertainment division). [5]

Photo Courtesy of money.cnn.com [d]

Current Film News

Last Vegas

http://www.youtube.com/watch?v=TvK3m0wJutI
[e]

On the weekend of November 1st, the movie “Last Vegas” starring Robert De Niro, Morgan Freeman, Kevin Kline, and Michael Douglas finished in 3rd place at the box office garnering $16,334,566 on a budget of $28 million. Currently, it is still doing well and has stayed in the top 5 weekend grossing movies since its release. To date, it has earned $46 million domestically.

“Last Vegas” has been received fondly by a wide audience. It received an “A-” on Cinemascore and has received nothing but compliments on how entertaining it was via CBS Film’s Twitter account. [5] [6]

Photo Courtesy of mrmovietimes.com [f]

According to a Huffington Post article, “Last Vegas” ranks as one of the “7 of the Best Movies for Grownups.” The article pointed out the fact that audiences over 50 accounted for 25% of all moviegoers and that that number continues to grow because “the boomer generation still really likes to go to theaters and see movies on the big screen.” According to data from the Motion Picture Association of America, the amount of post 50s adults watching movies increased by 1.6 million, a 25% increase from 2009-2012. This data points to the conclusion that CBS Films made a very smart move in creating a film with great star power, a good sized audience, and a timely release (near Thanksgiving). [7]

Inside Llewyn Davis

http://www.youtube.com/watch?v=VuQ8pz-5WLY

[g]

Photo Courtesy of impawards.com [h]

Opening in New York and Los Angeles on December 6th, “Inside Llewyn Davis” will be CBS Film’s next project to look out for. Written by Joel and Ethan Coen, the film won the Grand Prix, the second most prestigious prize at the 2013 Cannes Film Festival. It has been screened to packed audiences at the New York, Chicago, London, and Telluride Film Festivals. Actors featured include Carey Mulligan, Oscar Isaac, Garrett Hedlund, John Goodman, F. Murray Abraham and Justin Timberlake. As a film primarily about a folk musician’s journey, CBS Films celebrated “Inside Llewyn Davis” with a concert performance on November 14th, 2013 by an “American progressive acoustic music trio” called Nickel Creek. Many prominent individuals in the music industry attended, including Barbara Streisand, Moby, James Brolin, former head of Fox Music, Robert Kraft, and the president of the American Music Association, Jed Hilly. It is rumored that Nickel Creek will be performing in multiple venues the week before the movie’s release. The soundtrack to the film was released on November 11th and has received positive reviews for its fitting early-60’s Greenwich Village folk roots sound.Unlike its comedy “Last Vegas,” CBS Films

acquired the rights to domestic distribution for $4 million, proving that it can make smart moves in the acquisition business. [5] [8] [9] [10]

______________________________________________________________

Current Film News Continued

November 19th, 2013 – CBS Films’ summer comedy, “The To Do List” became available for purchase on Blu-Ray and DVD.

September 10th, 2013 – CBS Films recently acquired “The F Word,” an independent romantic comedy directed by Michael Dowse and starring Daniel Radcliffe, Zoe Kazan, and Adam Driver. It was screened at the Toronto International Film Festival and received mostly positive reviews. [5]

Sources

[1] http://cbsfilms.com/about/

[2] http://articles.latimes.com/2010/jan/11/business/la-fi-ct-cbsfilms11-2010jan11

[3] http://www.imdb.com/title/tt1931533/

[4] http://www.hollywoodreporter.com/lists/terry-press-397478

[5] http://investors.cbscorporation.com/phoenix.zhtml?c=99462&p=quarterlyearnings

[6] http://boxofficemojo.com/weekend/chart/?view=&yr=2013&wknd=44&p=.htm

[7] http://www.huffingtonpost.com/2013/11/14/baby-boomer-movies_n_4268724.html?utm_hp_ref=fifty&ir=Fifty

[8] http://www.deadline.com/2013/02/inside-llewyn-davis-cbs-films-acquisition-coen-brothers/

[9] http://www.billboard.com/articles/news/5793044/nickel-creek-reunites-new-album-inside-llewyn-davis

[10] http://www.npr.org/2013/11/03/242103173/first-listen-soundtrack-inside-llewyn-davis

Multimedia Sources

[a] http://collider.com/wp-content/uploads/cbs-films-slice.jpg

[b] http://5dinstitute.org/images/made/u/people/_web_optimized/WH-Headshot_sm_565_330_85_sha_s_c1.jpg

[c] http://www.hollywoodreporter.com/sites/default/files/2012/11/Terry_Press_a_p.jpg

[d] http://money.cnn.com/quote/quote.html?symb=CBS

[e] http://www.youtube.com/watch?v=TvK3m0wJutI

[f] http://movietimes.s3.amazonaws.com/posters/las%20vegas%20movie%20times.jpg

[g] http://www.youtube.com/watch?v=VuQ8pz-5WLY

[h] http://www.impawards.com/2013/posters/inside_llewyn_davis.jpg

CBS Corporation

Posted on November 4, 2013 by Gabrielle Sferra

By Gabrielle Sferra

Courtesy of CBS Corporation [1]

CBS Headquarters

51 W. 52nd Street
New York, NY 10019-6188
1-212-975-4321

History

CBS Corporation is a major media conglomerate founded by William S. Paley in 1928. While the company originated in radio broadcasting, television broadcasting soon became CBS’s area of success. Historically, programs such as “I Love Lucy”, “Gunsmoke“, and “All in the Family” catapulted CBS into profitable success [2]. In 1995, Westinghouse Broadcast bought CBS and sold it again in 2000. Viacom and CBS Corporation were considered a unit since 1970, but in 2006, the company split into two and CBS Corporation became what it is today [3].

Executives

Sumner M. Redstone

Courtesy of CBS [5]

Mr. Redstone is the CBS’s Executive Chairman of the Board, as well as Viacom’s. His role as executive chairman resulted from the split of the two companies in 2006. He is the leading shareholder in both companies. [4]

Leslie Moonves

Courtesy Of CBS [7]

Mr. Moonves is the President and Chief Executive Officer of CBS Corporation. He is responsible for all of the corporations holdings. He has held this position since the Viacom/CBS split in 2006. He has pushed the company to new limits, and brought the network and its various programs to more than 100 countries. [6]

Financials

Courtesy of Reuters [8]

CBS Corporation is a publicly traded company in NYSE exchange. The current value of share is $58.89. This past year, the stock price has steadily increased. Starting the year at a much smaller exchange rate ($37.98), each quarter has produced more profit than the previous [9]. This past quarter, the company has earned $3.6 Billion, which is an increase of 3% from last quarter [10].

Company Holdings

Courtesy of CBS Corp. [15]

CBS Corporation is responsible for many different stations, including, but not limited to, CBS Television, CBS News, The CW, Showtime, and The Smithsonian Channel. [11] CBS is consistently the number one station on broadcast television in total viewers. However, does not lead in viewers in the ideal 18-49 demographic [12]. CBS Television is definitely geared to a much older demographic. In recent years, with the introduction of programs such as “2 Broke Girls” and “Hawaii Five-0“, the network has been trying to breach this gap. However, their popular programs are also watched by the desired 18-49 demographic, contrary to popular belief [13] [14].

Successful Programs

The Big Bang Theory

Courtesy of Chicagonerds.com [21]

“The Big Bang Theory” is CBS Corporation’s number one comedy, consistently bringing in viewers every week [16]. The show premiered in September 2007. Syndication rights were bought by TBS and is currently the number one syndicated program, both off-network and first-run syndication [17]. Each episode costs TBS around $2 Million to air [18]. Before the show aired this September, three of the lead actors (Cuoco, Galecki, & Parsons) were bargaining for higher salaries, as they currently make $350,000 an episode. The negotiations have not begun yet, however [19]. Finally, the show appeals to many advertisors, as it is popular both within and outside of the 18-49 money demographic. Each 30 second spot costs aprox. $326,260, the second highest rate for primetime television, behind NFL Primetime Games [20].

How I Met Your Mother

Courtesy of TV Listings [24]

The popular series “How I Met Your Mother” will conclude this year in its ninth season. Syndication of the popular show began in 2008 with Lifetime Network. FX picked up syndication rights as well in 2011. The non-exclusive deal allows both networks to air the program. To air an episode, it costs $725,000 [22].

With the show concluding in May, CBS has just announced a spin-off called “How I Met Your Dad”, which will focus on the feminine version of the “How I Met Your Mother” story [23].

Fall Season

CBS introduced six new shows this season, including the new primetime hit The Crazy Ones, starring Robin Williams, and The Millers, starring Will Arnett. Other series, such as Hostages starring Toni Collette, and Mom, starring Anna Faris, have not pulled in high ratings. All of the new CBS shows, unfortunately, have been dropping audience numbers week-to-week [25].

Upcoming

Courtesy of Fansided.com [27]

CBS Corporation recently worked out a deal with Netflix to air the first four seasons of the hit show “Dexter“, in order to entice people to buy subscriptions to their network Showtime. The four seasons will be available until January 1, 2014, when they will be replaced by the next four season [26].

Another news program is in the early stages of production, as Charlie Rose and Gayle King may sign on to revamp the failing program “The Early Show.” During a block of daytime talk shows, CBS is interested in pursuing a hard-hitting news show to counter program. An announcement is expected anytime for the future of the two-hour program [28].

The CW Network has had a great season for CBS Corp., as the three new shows this season (“Reign“, “The Originals“, “The Tomorrow People“) were all picked up to finish their seasons in May. Nielsen says that ratings for the CW are up 9% from last year, averaging around 2 Million viewers. While the network’s target audience is a younger demographic, the 18-49 Demo is up 11% this year for the CW [29].

Courtesy of Youtube [30]

This past week, CBS became the first network of the season to sweep four straight nights of viewers in the 18-49 demo, as well as total viewers, from Tuesday to Friday [31].

CBS Fall Schedule:

Courtesy of The Wire [32]

Sources

[1] CBS Corporation Logo

[2] William Paley Obituary NY Times

[3] Dominick, Joseph R., Fritz Messere, Barry L. Sherman, and Joseph R. Dominick.Broadcasting, Cable, the Internet, and Beyond: An Introduction to Modern Electronic Media. New York: McGraw-Hill, 2012. Print.

[4]CBS Company Portfolio

[5] Ibid.

[6] CBS Company Portfolio

[7] Ibid.

[8] Reuters CBS Portfolio

[9] Wall Street Journal

[10] CBS Corporation Investor Profiles

[11] CBS Company Portfolio

[12] TV By The Numbers – Ratings CBS

[13] The Wire – CBS Demo

[14] TV By The Numbers – CBS 18-49 Demo

[15] CBS Company Portfolio