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CBS Corp (CBS.N)

CBS.N on New York Stock Exchange

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12 Nov 2018
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Latest Key Developments (Source: Significant Developments)

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

CBS Corp ‍Revenue For Q4 Increased 11 pct To $3.92 Billion​
Thursday, 15 Feb 2018 

Feb 15 (Reuters) - Cbs Corp ::ORATION REPORTS 2017 FOURTH QUARTER AND FULL YEAR RESULTS.Q4 ADJUSTED EARNINGS PER SHARE $1.20.Q4 EARNINGS PER SHARE $0.10 FROM CONTINUING OPERATIONS.‍REVENUES FOR Q4 OF 2017 INCREASED 11% TO A RECORD $3.92 BILLION​.QTRLY ENTERTAINMENT REVENUE $‍2,818​ MILLION VERSUS $2,394 MILLION LAST YEAR.Q4 RESULTS INCLUDE CHARGE OF $129 MILLION IN ASSOCIATED WITH ENACTMENT OF FEDERAL TAX LEGISLATION.‍RECORDED A ONE-TIME ACCOUNTING CHARGE OF $352 MILLION IN Q4 OF 2017 RELATED TO GROUP ANNUITY CONTRACT​.‍DURING Q4 OF 2017, COMPANY MADE A DISCRETIONARY CONTRIBUTION OF $500 MILLION TO PREFUND ITS QUALIFIED PLANS​.SEES 2018 ‍REVENUE GROWTH IN HIGH-SINGLE DIGITS AND EPS GROWTH IN HIGH TEENS​.QTRLY ADVERTISING REVENUE $‍1,745​ MILLION VERSUS $1,796 MILLION LAST YEAR.QTRLY ‍ADVERTISING REVENUE DOWN 3% DUE TO RECORD POLITICAL ADVERTISING SALES IN Q4 2016​.Q4 EARNINGS PER SHARE VIEW $1.14, REVENUE VIEW $3.70 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Appaloosa Dissolves Share Stake In CBS Corp - SEC Filing
Wednesday, 14 Feb 2018 

Feb 14 (Reuters) - Appaloosa LP : :APPALOOSA DISSOLVES SHARE STAKE IN CBS CORP - SEC FILING.APPALOOSA - CHANGE IN HOLDINGS ARE AS OF DEC 31, 2017 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF SEPT 30, 2017.  Full Article

Viacom Forms Special Committee To Evaluate Potential Combination With CBS
Thursday, 1 Feb 2018 

Feb 1 (Reuters) - Viacom Inc ::VIACOM INC. BOARD FORMS SPECIAL COMMITTEE TO EVALUATE POTENTIAL COMBINATION WITH CBS CORPORATION.VIACOM INC - COMMITTEE HAS RETAINED INDEPENDENT LEGAL COUNSEL AND IS RETAINING INDEPENDENT FINANCIAL ADVISORS IN CONNECTION WITH THIS EVALUATION.VIACOM INC - BOARD OF DIRECTORS HAS ESTABLISHED A SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO EVALUATE A POTENTIAL COMBINATION WITH CBS CORPORATION.  Full Article

CBS Forms Special Committee To Evaluate Potential Combination With Viacom
Thursday, 1 Feb 2018 

Feb 1 (Reuters) - CBS Corp ::CBS CORPORATION FORMS SPECIAL COMMITTEE TO EVALUATE POTENTIAL COMBINATION WITH VIACOM.CBS CORP - BOARD OF DIRECTORS HAS ESTABLISHED A SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO EVALUATE A POTENTIAL COMBINATION WITH VIACOM INC.  Full Article

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CBS third-quarter revenue, profit tops estimates

TV broadcaster and media company CBS Corp beat analysts' estimates for third-quarter revenue and profit on Thursday, boosted by strong advertising sales and higher digital subscriptions.