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CBS Corp (CBS.N)

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Latest Key Developments (Source: Significant Developments)

CBS Corp's Former Chairman Leslie Moonves' 2018 Compensation Was $47.1 Mln Versus $69.3 Mln In 2017
Friday, 12 Apr 2019 

April 12 (Reuters) - CBS Corp ::CBS CORP - FORMER CHAIRMAN LESLIE MOONVES' 2018 COMPENSATION WAS $47.1 MILLION VERSUS $69.3 MILLION IN 2017.CBS CORP SAYS PRESIDENT ACTING CEO JOSEPH IANNIELLO'S TOTAL COMPENSATION WAS $27.4 MILLION FOR THE PERIOD BETWEEN SEPTEMBER 9, 2018 AND DECEMBER 31, 2018.CBS CORP - RATIO OF THE ANNUAL TOTAL COMPENSATION OF THE ACTING CEO TO THE ANNUAL TOTAL COMPENSATION OF THE MEDIAN EMPLOYEE WAS 263 TO 1.CBS - NATIONAL AMUSEMENTS ADVISED IT INTENDS TO VOTE ITS SHARES OF CLASS A STOCK IN ACCORDANCE WITH BOARD RECOMMENDATIONS ON ELECTION OF DIRECTORS.  Full Article

CBS says Expects To Record Restructuring Charge In Q1 Of 2019
Friday, 15 Feb 2019 

Feb 15 (Reuters) - CBS Corp ::INITIATED RESTRUCTURING PLAN UNDER WHICH SEVERANCE PAYMENTS WILL BE PROVIDED TO CERTAIN ELIGIBLE EMPLOYEES WHO ELECT TO PARTICIPATE.AS RESULT, COMPANY EXPECTS TO RECORD RESTRUCTURING CHARGE IN Q1 OF 2019 - SEC FILING.HAD EXPENSES OF $128 MILLION IN 2018 PRIMARILY FOR FEES RELATED TO LEGAL PROCEEDINGS, INVESTIGATIONS AT CO, EVALUATION OF POTENTIAL DEAL WITH VIACOM.  Full Article

CBS Board Going To Consider Whether To Restart Talks To Merge With Viacom - The Information
Tuesday, 8 Jan 2019 

Jan 8 (Reuters) - :CBS'S BOARD GOING TO CONSIDER WHETHER TO RESTART TALKS TO MERGE WITH VIACOM - THE INFORMATION.MERGER PLAN MAY PROMPT CBS TO PUT OFF ITS CEO SEARCH AND INSTEAD STICK WITH INTERIM CEO JOE IANNIELLO PENDING COMPLETION OF MERGER- THE INFORMATION.  Full Article

CBS Corp Announces Agreement To Sell CBS Television City
Monday, 10 Dec 2018 

Dec 10 (Reuters) - CBS Corp ::PRESS RELEASE - CBS CORPORATION ANNOUNCES AGREEMENT TO SELL CBS TELEVISION CITY.CBS CORP - DEAL FOR FOR $750 MILLION.CBS CORP - TRANSACTION WILL BE TAX EFFICIENT.CBS CORP - CBS PROGRAMS WILL CONTINUE TO BE PRODUCED ON TELEVISION CITY CAMPUS FOR AT LEAST NEXT FIVE YEARS.CBS CORP - AGREEMENT FOR SALE OF CBS TELEVISION CITY PROPERTY AND SOUND STAGE OPERATION WITH HACKMAN CAPITAL PARTNERS FOR $750 MILLION.CBS CORP - HACKMAN CAPITAL WILL ALSO HAVE RIGHTS TO USE TELEVISION CITY TRADEMARK IN CONNECTION WITH ITS OPERATIONS ON PROPERTY.CBS CORP - TO RETAIN OFFICE SPACE FOR CBS STUDIOS INTERNATIONAL'S U.S. HEADQUARTERS, OTHER DEPARTMENTS CURRENTLY HOUSED ON SITE.  Full Article

CBS Board Planning To Search For New CEO Even As Members Consider Joe Ianniello Leading Candidate - FBN Gasparino's Tweet
Monday, 8 Oct 2018 

Oct 8 (Reuters) - :CBS BOARD PLANNING TO SEARCH FOR NEW CEO EVEN AS MEMBERS CONSIDER JOE IANNIELLO LEADING CANDIDATE - FBN GASPARINO'S TWEET.CBS BOARD WILL ALSO SOON BEGIN TO TEST THE MARKET FOR A POTENTIAL BUYER AFTER CONCLUSION OF MOONVES PROBE- FBN GASPARINO'S TWEET.  Full Article

CBS News, In Memo To Employees, Says Jeff Fager Is Leaving Co
Wednesday, 12 Sep 2018 

Sept 12 (Reuters) - CBS News::CBS NEWS, IN MEMO TO EMPLOYEES, SAYS JEFF FAGER IS LEAVING THE COMPANY EFFECTIVE IMMEDIATELY.CBS NEWS, IN MEMO TO EMPLOYEES, SAYS BILL OWENS WILL MANAGE THE 60 MINUTES TEAM.CBS NEWS, IN MEMO TO EMPLOYEES, SAYS WEDNESDAY'S ACTION NOT DIRECTLY RELATED TO ALLEGATIONS SURFACED IN PRESS REPORTS, WHICH CONTINUE TO BE INVESTIGATED INDEPENDENTLY.CBS NEWS, IN MEMO TO EMPLOYEES, SAYS JEFF FAGER VIOLATED COMPANY POLICY.CBS NEWS, IN MEMO TO EMPLOYEES, SAYS JOE IANNIELLO IS IN FULL SUPPORT OF DECISION TAKEN ON WEDNESDAY AND THE TRANSITION TO COME.CBS NEWS, IN MEMO TO EMPLOYEES, SAYS BEGINS THE SEARCH FOR A NEW EXECUTIVE PRODUCER OF 60 MINUTES PROGRAM.  Full Article

CBS to pay $120 mln to Moonves pending probe outcome
Monday, 10 Sep 2018 

Sept 10 (Reuters) - CBS Corp ::CBS SAYS ENTERED INTO A SETTLEMENT AND RELEASE AGREEMENT WITH NATIONAL AMUSEMENTS INC - SEC FILING.CBS - LESLIE MOONVES, DAVID R. ANDELMAN, JOSEPH A. CALIFANO, JR., CHARLES K. GIFFORD, LEONARD GOLDBERG, ARNOLD KOPELSON AND DOUG MORRIS EACH VOLUNTARILY RESIGNED AS A DIRECTOR OF CO.CBS - APPOINTED CANDACE K. BEINECKE, BARBARA BYRNE, BRIAN GOLDNER, RICHARD D. PARSONS, SUSAN SCHUMAN AND STRAUSS ZELNICK TO BOARD.CBS - AS A RESULT OF CHANGES, THE COMPANY’S BOARD CURRENTLY HAS 13 DIRECTORS.CBS SAYS WITHIN THIRTY DAYS FOLLOWING SEPT 9 DEAL WITH MOONVES, COMPANY WILL ALSO CONTRIBUTE $120 MILLION TO A GRANTOR TRUST - SEC FILING.CBS - FOR 2 YRS OF FROM SETTLEMENT DATE, NAI AGREED NOT TO PROPOSE MERGER OF CBS & VIACOM UNLESS AT LEAST 2/3 OF DIRECTORS NOT AFFILIATED WITH NAI REQUEST THAT IT DO SO.CBS - FOLLOWING SECOND ANNIVERSARY, NAI WILL NOT APPROVE/CONSENT TO MERGER OF CBS & VIACOM UNLESS MAJORITY OF DIRECTORS NOT AFFILIATED WITH NAI HAS APPROVED DEAL.CBS SAYS IF BOARD DETERMINES CO NOT ENTITLED TO TERMINATE MOONVES’S EMPLOYMENT, ASSETS OF THE GRANTOR TRUST WILL BE DISTRIBUTED TO MOONVES.CBS - ADOPTED POLICY THAT EACH DIRECTOR MUST NOTIFY BOARD OF ANY BONA FIDE INQUIRY HE/SHE BECOMES AWARE OF REGARDING BUSINESS COMBINATION IN WHICH CBS WOULD BE PARTY.CBS - IF BOARD DETERMINES CO ENTITLED TO TERMINATE MOONVES FOR CAUSE UNDER HIS EMPLOYMENT AGREEMENT & HE DOES NOT DEMAND ARBITRATION, GRANTOR TRUST ASSETS TO BE DISTRIBUTED TO CO.  Full Article

Leslie Moonves Says Effective Immediately He Will No Longer Be Chairman And CEO Of CBS
Monday, 10 Sep 2018 

Sept 9 (Reuters) - :STATEMENT BY LESLIE MOONVES ON HIS LEAVING CBS.LESLIE MOONVES SAYS "EFFECTIVE IMMEDIATELY I WILL NO LONGER BE CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF CBS" - STATEMENT.  Full Article

CBS Launched "CBS Sports HQ"
Monday, 26 Feb 2018 

Feb 26 (Reuters) - Cbs Corp ::CBS - ‍LAUNCHED CBS SPORTS HQ, A 24/7 DIRECT-TO-CONSUMER STREAMING NETWORK.  Full Article

CBS To Spend About $800 Mln To $1 Bln On Stock Buyback in 2018 - Conf Call
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - CBS Corp ::OUR BOOK TAX RATE IS GOING TO BE LOWERED TO ABOUT 24 PERCENT - CONF CALL‍​.EXPECT TO SPEND ABOUT $800 MILLION TO $1 BILLION REPURCHASING OUR STOCK IN 2018 - CONF CALL‍​.WILL TAKE MONEY SPENT ON THURSDAY NIGHT FOOTBALL AND REINVEST IT IN REGULAR PROGRAMMING - CONF CALL‍​.LOSING THURSDAY NIGHT FOOTBALL HAS NO AFFECT ON RETRANS REVENUE - CONF CALL‍​.EXPECTS POLITICAL ADS TO SURPASS 2016 THIS YEAR - CONF CALL‍​.CBS ALL ACCESS AND SHOWTIME ONLINE STREAMING SERVICES ARE 50/50 IN TERMS OF SUBS - CONF CALL‍​.  Full Article

UPDATE 2-Tiger Woods delivers Masters ratings win for CBS, blunted by early start

April 16 CBS Corp said on Tuesday that the broadcast of the Masters final round live coverage averaged 10.8 million viewers, making it the most-watched golf broadcast since last year's Masters final round.