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CBS Corporation
Type Public (NYSE: CBS, NYSE: CBSA)
Founded 1986[1]
Headquarters New York, New York, USA
Key people Sumner Redstone, Chairman (through National Amusements, owns a controlling amount of voting shares)
Leslie Moonves, President & CEO
Industry Broadcasting & Publishing
Products CBS, The CW, CBS Radio, more...
Revenue ▼US$14. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Year 1986 ( MCMLXXXVI) was a Common year starting on Wednesday (link displays 1986 Gregorian calendar) The City of New York The United States of America —commonly referred to as the Sumner Murray Redstone (born Sumner Murray Rothstein; May 27 1923) is Majority owner and Chairman of the Board of the National National Amusements Inc is a privately owned media and entertainment company based in Dedham Massachusetts, USA Leslie Moonves (born December 23, 1948) is President and Chief Executive Officer of CBS Corporation. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" For the band see Broadcast (band Broadcasting is the distribution of audio and/or Video signals which transmit Publishing is the process of production and dissemination of Literature or Information &ndash the activity of making information available for public view In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need CBS Broadcasting Inc ( CBS) is an American radio and Television network. The CW Television Network ( The CW) is a Television network in the United States launched at the beginning of the 2006-2007 television season. This article is about the radio group for the radio network see CBS Radio Network. CBS Corporation () is an American Media conglomerate focused on Broadcasting, Publishing, Billboards, and Television In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 072 billion (2007). Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. [2]
Operating income ▲US$2. In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses 622 billion (2007). Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. [3]
Website www.cbscorporation.com

CBS Corporation (NYSE: CBS, NYSE: CBSA) is an American media conglomerate focused on broadcasting, publishing, billboards, and television production, with most of its operations in the United States. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The United States of America —commonly referred to as the A media conglomerate describes companies that own large numbers of companies in various Mass media such as Television, Radio, Publishing, For the band see Broadcast (band Broadcasting is the distribution of audio and/or Video signals which transmit Publishing is the process of production and dissemination of Literature or Information &ndash the activity of making information available for public view Television ( TV) is a widely used Telecommunication medium for sending ( Broadcasting) and receiving moving Images, either monochromatic The President and CEO of the company is Leslie Moonves. President is a Title leaders of Organizations companies, Trade unions universities, and countries. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Leslie Moonves (born December 23, 1948) is President and Chief Executive Officer of CBS Corporation. Sumner Redstone, whose company National Amusements is CBS's majority shareholder, serves as Chairman. Sumner Murray Redstone (born Sumner Murray Rothstein; May 27 1923) is Majority owner and Chairman of the Board of the National National Amusements Inc is a privately owned media and entertainment company based in Dedham Massachusetts, USA The company came into being on December 31, 2005 and began trading on the NYSE on January 3, 2006. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 1431 - Joan of Arc is handed over to the Bishop Pierre Cauchon. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Until then, the corporation was known as Viacom, and is the legal successor to said company. [4]

Contents

History

Main article: Viacom (1971-2005)

Viacom was created in 1970 as the television syndication division of CBS, and was spun off in 1971. Year 1970 ( MCMLXX) was a Common year starting on Thursday (link shows full calendar of the Gregorian calendar. In Broadcasting, syndication is the sale of the right to broadcast Radio shows and Television shows to multiple individual stations without going through CBS Broadcasting Inc ( CBS) is an American radio and Television network. Year 1971 ( MCMLXXI) was a Common year starting on Friday (link will display full calendar of the 1971 Gregorian calendar. However, in 1999, Viacom acquired its former parent, by this time also named CBS Corporation, formerly Westinghouse Electric Corporation. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Founded in 1886 as Westinghouse Electric Company and later renamed Westinghouse Electric Corporation by George Westinghouse. The prior CBS Corporation also owned CMT and The Nashville Network (now Spike), which remained Viacom properties after the 2005 split, but the prior CBS did not own UPN, Showtime, Paramount Television, Paramount Parks, or Simon and Schuster. Country Music Television, or CMT as it is usually called is an American Country music -oriented Cable television network Spike (formerly called Spike TV) a division of MTV Networks, is an American cable network designed for an audience described Spike (formerly called Spike TV) a division of MTV Networks, is an American cable network designed for an audience described United Paramount Network ( UPN) was a Television network that broadcast in over 200 markets in the United States and that was in production for over eleven

In March 2005, Viacom announced plans of looking into splitting the company into two publicly traded companies, amid issues of the stock price stagnating (although it was alleged that another main force behind the split was the Super Bowl XXXVIII halftime show controversy, which led to MTV not being allowed to produce any more halftime shows, they had also produced the show for Super Bowl XXXV, the first Super Bowl CBS aired since regaining NFL rights and become MTV's corporate sibling). Super Bowl XXXVIII, which was broadcast live on February 1, 2004 from Houston Texas on the CBS television network in the Super Bowl XXXV was an American football game played on January 28, 2001 at Raymond James Stadium in Tampa Florida to decide

On June 14, 2005, the Viacom board of directors approved the split of the company into two firms. Events 1276 - While taking exile in Fuzhou in southern China, away from the advancing Mongol invaders, the remnants of the Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. The CBS Corporation name would be revived for one of the companies, to be headed by longtime television executive (and Viacom co-President) Leslie Moonves, and would include CBS, UPN, Infinity Broadcasting, Viacom Outdoor, Showtime Networks, and Paramount's television studio. Leslie Moonves (born December 23, 1948) is President and Chief Executive Officer of CBS Corporation. These businesses were categorized as the "slow growth businesses" because while they provided steady cash flow, they did not have any growth potential. Some analysts argued that these businesses were suffocating the growth of the MTV Networks cable businesses.

The split was structured such that the "new" Viacom was spun off from the "old" Viacom, which was renamed CBS Corporation. Viacom ( ( short for " Vi deo & A udio Com munications" is an American Media conglomerate with various worldwide interests In a sense, this was a repeat of the 1971 spinoff. However, in this case, CBS retained virtually all of the prior firm's broadcast TV assets, including its various syndication companies.

The split was completed on December 31, 2005, and the two new companies began trading on the NYSE, on the next business day, January 3, 2006. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 1431 - Joan of Arc is handed over to the Bishop Pierre Cauchon. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. [5] The CBS network ran an advertisement stating that the CBS Corporation would exist "beginning on January 3, 2006," (likely referring to be beginning of trading on the New York Stock Exchange), but the websites of the CBS Corporation and Viacom were split beforehand, with a notice on both sites stating that it officially occurred on December 31, 2005. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar.

Sumner Redstone's company National Amusements remains the largest single shareholder of both CBS Corporation and the "new" Viacom.

Transactions during and after the merger

2004

In the interim, Viacom/CBS was involved in a number of transactions. On December 2, 2004 Viacom acquired CBS affiliate KOVR-TV in Sacramento, from Sinclair Broadcast Group. Events 1409 - The University of Leipzig opens 1755 - The second Eddystone Lighthouse is destroyed by fire "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again " The Sinclair Broadcast Group ( SBG) is the operator of the largest number of local Television stations in the United States with a total of 57 stations Viacom also acquired two stations in West Palm Beach.

2005

Viacom/CBS has announced it would sell several non-duopoly UPN affiliates, in Indianapolis, Columbus, New Orleans, and Oklahoma City, with possibilities of additional sales. A true duopoly is a specific type of Oligopoly where only two producers exist in one Market. Columbus is the Capital and the largest city of the US state of Ohio. New Orleans (nʲuːˈɔrliənz nʲuːˈɔrlənz French: La Nouvelle-Orléans) is a major United States port city and the largest city in Louisiana Oklahoma City is the capital and largest city of the US state of Oklahoma.

CBS announced on November 3, 2005, that it would acquire College Sports TV (now CBS College Sports Network) for US$325 million. Events 644 - Umar ibn al-Khattab, the second Muslim Caliph, is killed by a Persian slave in Medina. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. CBS College Sports Network (usually promoted with the "Network" portion excised from the branding is a multimedia network and the first dedicated exclusively to The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been CEO of CSTV Brian Bedol will continue to run that network and report to Leslie Moonves, chairman of CBS. Brian Bedol is an American television executive entrepreneur and founder of the sports television channels Classic Sports Network and College Sports Television. The transaction was completed in January 2006.

2006

Announced early in 2006, CBS and DIC Entertainment signed a multi-year deal to provide three hours of programming that meet FCC standards for educational programming. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The block would be called "KOL Secret Slumber Party on CBS" -- which is also a partnership with America Online's KOL kids service and premiered on September 16, 2006. KEWLopolis is a three-hour Children's programming block that began on CBS on September 15, 2007 replacing the KOL Secret Slumber Events 1400 - Owain Glyndŵr is declared Prince of Wales by his followers Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.

Shows included are Sabrina, the Animated Series, Horseland, Madeline, Dance Revolution and many others. Sabrina the Animated Series (often punctuated Sabrina The Animated Series, even in official promotional material is an American For the Animated series of the same name see Horseland (TV Series Horseland an Online community that simulates Madeline is a Children's book series written by Ludwig Bemelmans, an American author of Belgian, Austrian and German origins This article is about the television series For the video game on which the series was based see Dance Dance Revolution. [6] It was originally supposed to be called "CBS's Saturday Morning Secret Slumber Party" but was renamed with KOL's alliance. [7]

2007

2008

The CW

Main article: The CW

On January 24, 2006, CBS Corporation, and Warner Bros. announced that they were to create a new broadcast network, The CW Television Network. The CW Television Network ( The CW) is a Television network in the United States launched at the beginning of the 2006-2007 television season. Events 41 - Gaius Caesar (Caligula, known for his eccentricity and cruel Despotism, is Assassinated by his disgruntled Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Warner Bros Entertainment Inc (or Warner Bros, Warner Bros Pictures) is one of the world's largest producers of Film and The CW Television Network ( The CW) is a Television network in the United States launched at the beginning of the 2006-2007 television season. The network officially debuted on September 18, 2006. Events 96 - Nerva is proclaimed Roman Emperor after Domitian is assassinated Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The network formally debuted on September 20 with the 2 hour premiere of America's Next Top Model. Events 451 - The Battle of Chalons takes place in North Eastern France. America's Next Top Model (often shortened to Top Model or abbreviated as ANTM) is a Reality television show in which a number of women compete

The network is the result of a merger of The WB (a Warner Brothers holding) and UPN (a CBS Corporation holding). United Paramount Network ( UPN) was a Television network that broadcast in over 200 markets in the United States and that was in production for over eleven CBS Corporation and Time Warner will each own 50% of the network. Tribune Broadcasting (which previously owned a 25% stake on The WB) and CBS Corporation will contribute its stations as new network affiliates. Tribune Broadcasting is a group of Radio and Television stations located throughout the United States which are owned and operated by the Tribune Company

Paramount Parks

Main article: Paramount Parks

Three days after the announcement of The CW, on January 27, CBS announced that it was selling its Paramount Parks division. Paramount Parks was an operator of Theme parks and attractions which annually attracted about 13 million patrons Events 98 - Trajan becomes Roman Emperor after the death of Nerva. Paramount Parks was an operator of Theme parks and attractions which annually attracted about 13 million patrons On May 23, 2006, CBS Corp. Events 1430 - Siege of Compiègne: Joan of Arc is captured by the Burgundians while leading an army to relieve Compiègne Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. sold Paramount Parks to the Cedar Fair Entertainment Company. Cedar Fair Entertainment Company, legally known as Cedar Fair L With this acquisition, Cedar Fair becomes the third-largest theme park operator.

On June 30, 2006, Cedar Fair announced that it has completed its acquisition of Paramount Parks from CBS Corporation in a cash transaction valued at US$1. Events 350 - Roman usurper Nepotianus, of the Constantinian dynasty, is defeated and killed by troops of the Usurper Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. 24 billion.

CNET Networks

On May 15, 2008, CBS Corp. Events 1252 - Pope Innocent IV issues the Papal bull Ad exstirpanda, which authorizes but also limits the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common announced it will purchase Internet media company CNET Networks for $11. CNET Networks Inc is a media company based in San Francisco California, United States, and is part of CBS Interactive, owned 50 a share ($1. 8 billion). [15]

Corporate governance

The board of directors of CBS Corp. include:

Assets

Further information: List of assets owned by CBS

Accounting Ratios

CBS Corporation Accounting Ratios
Fiscal Year 2005 2004 2003 2002 2001
Fiscal Year End Date 12/31/05 12/31/04 12/31/03 12/31/02 12/31/01
Receivables Turnover 5. This article is about the record label founded in 2006 For the earlier CBS Records label see Columbia Records. This article is about the radio group for the radio network see CBS Radio Network. CBS Interactive (formerly CBS Digital Media Group is the division of the CBS Corporation which has responsibility for programming and ad sales for CBS Lastfm is a UK -based Internet radio and Music Community website, founded in 2002 CBS Outdoor (formerly Viacom Outdoor, Infinity Outdoor, and Outdoor Systems, among others is the outdoor advertising division of Media conglomerate Simon & Schuster Inc, a division of CBS Corporation, is a Publisher founded in New York in 1924 by Richard L CBS Consumer Products, a unit of the CBS Corporation, manages the worldwide licensing merchandising and video activities for a diverse slate of properties owned or controlled The Westinghouse Electric Corporation ( WEC) is a Delaware corporation founded in 1998 by CBS Corporation (the renamed 'original' 3 5. 3 6. 1 6. 6 6. 5
Receivables - Number of Days 86. 2 68. 4 54. 6 53. 4 58. 5
Inventory Turnover 8. 8 10. 3 11. 7 11. 0 10. 0
Inventory - Number of Days 41. 0 35. 0 30. 8 32. 7 36. 2
Gross Property, Plant & Equipment Turnover 2. 8 2. 9 2. 5 2. 5 2. 5
Net Property, Plant & Equipment Turnover 4. 5 4. 8 4. 4 4. 0 3. 7
Depreciation, Depletion & Amortization -
 % of Gross Property, Plant & Equipment 9. 8% 10. 4% 9. 4% 9. 6% 32. 9%
Depreciation, Depletion & Amortization -
Year to Year Change (Millions US Dollars) -31. 1 -19. 0 5. 4 -213. 9 86. 1
Depreciation, Depletion & Amortization -
Year to Year % Change -38. 4% -19. 0% 5. 7% -69. 3% 38. 7%
Source: CorporateInformation CBS Corporation Company Snapshot

See also

References

  1. ^ The Viacom-CBS split was structured in such a way that the existing company (Viacom) changed its name to CBS Corporation, while the new Viacom is actually a newly founded spin-off company. Viacom ( ( short for " Vi deo & A udio Com munications" is an American Media conglomerate with various worldwide interests For this reason, the newly rechristened CBS Corporation is actually the same company (Viacom) that was founded in 1986. The 1986 Viacom, in turn, was the successor to a previous company also known as Viacom and founded in 1971.
  2. ^ FOURTH QUARTER AND FULL YEAR 2007 RESULTS.
  3. ^ FOURTH QUARTER AND FULL YEAR 2007 RESULTS.
  4. ^ www.cbscorporation.com/media/pdf/CleanShareholderletterS.pdf (PDF).
  5. ^ www.cbscorporation.com/media/pdf/CleanShareholderletterS.pdf (PDF).
  6. ^ www.cbscorporation.com/news/prdetails.php?id=469.
  7. ^ mediaweek.com/mw/news/networktv/article_display.jsp?vnu_content_id=1002725721.
  8. ^ www.cbscorporation.com/news/prdetails.php?id=1624.
  9. ^ www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20070213/GPG03/70213117/1978.
  10. ^ CBS Invests in Virtual World Content Developer.
  11. ^ CBS acquires an online high school sports network InfoNIAC
  12. ^ CBS Corporation Announces the Creation of the CBS Interactive Audience Network, Yahoo!, April 12, 2007
  13. ^ Music site Last.fm bought by CBS, BBC, May 30, 2007
  14. ^ CBS Corporation to acquire CNET Networks, inc., CBS Press Release, May 15, 2008
  15. ^ CBS buying CNet in online push. Events 467 - Anthemius is elevated to Emperor of the Western Roman Empire. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 1416 - The Council of Constance, called by the Emperor Sigismund a supporter of Antipope John XXIII burns Jerome of Prague following Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 1252 - Pope Innocent IV issues the Papal bull Ad exstirpanda, which authorizes but also limits the 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common cnn. com (May 15, 2008). Retrieved on 2008-05-15. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1252 - Pope Innocent IV issues the Papal bull Ad exstirpanda, which authorizes but also limits the

External links

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