 By Silicon
el 23-May-2008 |
moonves:chen.png: Paste this image in your site, Myspace, Facebook, Ebay copy this code...
 That advertising downturn? The one that CBS chief Les Moonves didn't see in January, but then started seeing in March? Well, now, with a little hindsight, Les thinks it probably started last summer.
"CBS is no exception to this trend," said at CBS's shareholder meeting in Manhattan. But he also insisted the slowdown is limited to local TV, offset a bit by political spending, and nothing a bunch of job cuts couldn't fix.
Presiding over the meeting: Chairman Sumner Redstone (and daughter Shari), who said there is no plan to re-unite Viacom (VIA) and CBS (CBS), despite a New York Post report alleging Viacom chief Philippe Dauman was angling to do so. "There has never been any such plan in existence and will never be," he said.
A more likely scenario floated earlier this month by Jim Cramer: Redstone and Moonves take CBS private.
Asked if he approved the $1.8 billion deal for CNET, Redstone said, "Les and his team usually do everything right. Therefore, I have to believe that management is right."
Read 0 times
|
Hello, Guest
Online: 93 visitors
+ fotos
