CBS Chief Executive Les Moonves doesn’t sound particularly worried about NBC’s decision to put Jay Leno in the 10:00 pm timeslot five nights a week. In fact, he sounds a bit giddy about the whole thing.
CBS’s stock may be in the tank (now under $4 a share), but Chief Executive Les Moonves is still pretty darn optimistic. That may be because his network — home to the “CSI” franchise, “Survivor,” and “The Mentalist” — is the only one of the big four that’s been pulling in more prime-time viewers. For months it has been crushing ABC, NBC, and Fox in the ratings game.
Here’s the latest on Sumner Redstone: On CBS’s earnings call he reiterated that negotiations with lenders regarding National Amusements’ debt situation were moving forward.
CBS reports its quarterly earnings later today and expectations are… well… low. That’s not surprising to anyone who has watched a parade of bad numbers coming out of the other big media companies this quarter. Viacom. Time Warner. Walt Disney. News Corp. There were few positive notes in any of them.
CBS has made a big deal about its dividend. Just three months ago, Chief Executive Les Moonves made clear his commitment to the quarterly payout to shareholders, who, by the way, have seen the stock fall nearly 75 percent in the last 12 months. Yep, 75 percent.
The divisions are deepening out in Hollywood — and we’re not talking about the standoff between the Screen Actors Guild and major studios. No, we’re talking about Tom Hanks vs Mel Gibson, George Clooney vs Martin Sheen. Actor against actor, start against star. Good stuff.