CBS Corporation

  1. Time Warner Cable, CBS Fee Row Escalates

    July 30, 2013 5:38 AM EDT The fee dispute between Time Warner Cable and CBS Corp. took an odd turn when the cable giant announced it was turning off the broadcaster in three major cities, then quickly reversed the decision. The two sides negotiated through the day Monday ...

  2. Viacom Told to Pay Hundreds of Millions to 'Rock Band' Developer Harmonix

    July 18, 2013 4:17 AM EDT It's looking grim for Viacom in a dispute over payments to former Harmonix shareholders. This court battle seems to demand more attention given the newfound appetite for M&A in the entertainment sector and the amount of money at stake ...

  3. Viacom Ordered To Pay $300 Million Over 'Rock Band' Acquisition

    August 13, 2012 5:26 PM EDT Viacom has suffered a $300 million loss in a Delaware court tied to its 2006 acquisition of Harmonix, the studio that created the Rock Band video games. Although Viacom sold Harmonix in 2010 , it is still paying for the decision to buy the game st ...

  4. Viacom Stock Rating Cut by Analyst, Cites 'Ongoing Ratings Weakness'

    July 10, 2012 7:47 AM EDT UBS analyst John Janedis on Tuesday downgraded his rating on Viacom's stock from "buy" to "neutral" citing "concerns related to ongoing ratings weakness" at Nickelodeon and MTV. "While the stock is cheap&quo ...

  5. Viacom Increases Quarterly Dividend

    May 24, 2012 7:45 AM EDT Viacom said Wednesday (May 23) that its board has approved a 10 percent increase in its quarterly dividend to 27.5 cents per share from 25 cents. Viacom Launches New Blog The increase will take effect starting with Viacom's next quarterly div ...

  6. Entertainment, Other Stocks End Flat After Dow Exceeds Milestone

    February 22, 2012 7:30 AM EST NEW YORK - U.S. stocks, including shares of entertainment conglomerates, finished Tuesday's trading day flattish after initial gains that pushed the Dow Jones Industrial Average index above 13,000 for the first time since May 2008. Higher oil ...

  7. Viacom First Quarter Earnings Shredded by 'Rock Band' Settlement

    February 03, 2012 7:00 AM EST NEW YORK (AP) - Viacom Inc., the owner of Paramount Pictures, MTV and Comedy Central, on Thursday posted a 65 percent drop in net income for the latest quarter, as it took a charge related to the "Rock Band" series of video games. Revenu ...

  8. Viacom Demands to Be Repaid $131 Million From Shareholders of 'Rock Band' Maker

    September 19, 2011 3:30 PM EDT Shareholder lawsuits against big corporations are quite common. But rarely does a corporation turn around and sue its stockholders. That's what's happening at Viacom, which on Friday sued former stockholders of ex-subsidiary Harmonix Mus ...

  9. Sony Shares Hit 52-Week Low Amid Global Market Sell-Off

    August 05, 2011 7:56 AM EDT UPDATED: The stocks of entertainment conglomerates Walt Disney and Time Warner are now down for the year-to-date period, News Corp. closed at the same price as at the end of 2010, while CBS Corp. and Viacom remain ahead of their 2010 closing price ...

  10. Tom Freston, Fired From Viacom for Failing to Buy Myspace in 2005, 'Smiling' Over Sale

    June 30, 2011 4:07 PM EDT Six years ago, Myspace was the darling of the Internet, a fast growing company that many larger organizations were vying to make a crown jewel in their business. Rupert Murdoch and News Corporation won the race, acquiring the company in 2005 for $ ...

  11. Viacom Sues Cablevision over iPad Streams

    June 24, 2011 8:33 AM EDT NEW YORK - Viacom Inc sued Cablevision Systems Corp to halt what it called the unauthorized streaming of its programing on devices such as Apple Inc's iPad. The lawsuit was filed on Thursday in Manhattan federal court, one day after court doc ...

  12. Disney's Rare Revenue Miss Hurts Shares

    May 11, 2011 7:05 AM EDT NEW YORK (Reuters) - Walt Disney Co reported a rare results miss after "Mars Needs Moms" capped a disappointing quarter at the U.S. box office, sending its shares down 3 percent. Strong advertising growth at sports network ESPN and a ris ...

  13. Viacom's Philippe Dauman Tops Wall Street Journal's Highest-Paid CEOs List

    May 09, 2011 12:11 PM EDT CEOs of media, entertainment and TV giants claimed five of the top 10 spots on a Wall Street Journal list of executives with the highest compensation for 2010 . The median value of salaries, bonuses and long-term incentive awards for the CEOs of 3 ...

  14. Judy McGrath Left MTV the Day After 'Electric Barbarellas' Premiere -- Coincidence?

    May 05, 2011 6:45 PM EDT You may recall that last year, MTV Networks CEO/Chairman Judy McGrath -- who stepped down today after 30 years at the company - was engaged in a battle of the wills with Sumner Redstone over a reality show involving a scantily clad, all-female gro ...

  15. Judy McGrath, MTV Networks Chairman/CEO, to Step Down

    May 05, 2011 11:33 AM EDT Judy McGrath is resigning from her position as Chairman and Chief Executive Officer of MTV Networks, parent company Viacom announced in a statement Thursday (May 5). McGrath, who began her career with the company as a copywriter at MTV in 1981, to ...

  16. Vice Media Secures Investments From Tom Freston, Others

    April 05, 2011 7:41 AM EDT Vice Media Inc., the company spawned from a Montreal-based punk magazine that now includes music, film and book divisions, has secured investments from a trio of heavy hitters in an effort to boost its expanding business. The company is set to ann ...

  17. Viacom Promotes Robert Bakish to New International CEO Position, Network Focusing On Foreign Markets

    January 19, 2011 12:00 AM EST Viacom is looking to deliver on its hopes to further grow its international TV business. The company has promoted Robert Bakish to the newly created position of president and CEO of Viacom International Media Networks. He was previously president ...

  18. Analysis: Viacom's Sale of Harmonix Is No Surprise

    December 27, 2010 12:00 AM EST Viacom's decision to sell video game maker Harmonix last week may have seemed out of the ordinary, but the odds of success are often stacked against many such acquisitions. Last week, Viacom sold Harmonix to investment firm Columbus Nova for ...

  19. Viacom Parts Ways With Rock Band

    December 23, 2010 12:00 AM EST Viacom Inc has sold Harmonix Music Systems, the developer behind the Rock Band franchise, to the investment firm Columbus Nova, ending a failed foray into the video game business. Analysts have long questioned the value of Rock Band for a company ...

  20. Viacom Sees Ad Upswing

    August 05, 2010 12:00 AM EDT Viacom said it is seeing a continued strengthening of the U.S. advertising market. While the economic recovery is coming only in fits and starts, "the overall advertising market continues to strengthen," president and CEO Philippe Dauman ...

  21. Sun Valley Confab Kicks Off

    July 06, 2010 12:00 AM EDT Entertainment industry power players have descended on Sun Valley, Idaho, for the annual post-July 4 tradition known as summer camp for moguls. Several hundred media and tech execs, financial types, agents, lawyers and assorted sports, entertainme ...

  22. Ad Recovery Remains Elusive For MTV Nets

    February 12, 2010 12:00 AM EST The advertising marketplace in the fourth quarter began limping down the long road to recovery, as was demonstrated by earnings reports issued by a half-dozen media companies over the course of the last 10 days. And while some programmers have cov ...

  23. CBS Corp. Creates Interactive Music Group

    May 05, 2009 12:00 AM EDT CBS Corp. said Tuesday it is combining its CBS Radio online assets and music discovery site Last.fm to create the CBS Interactive Music Group. It includes CBS Radio’s more than 100 music Websites and audio streams, related mobile applications, as ...

  24. Digital Briefs: Sony, YouTube, 'Rock Band' Suit, Shazam

    February 13, 2009 12:00 AM EST - Sony Music Entertainment has finalized a new licensing deal with YouTube, although no formal announcement has been made. The All Things D blog initially reported the deal, which Billboard has since confirmed. Details include an upfront payment t ...

  25. Viacom Profit Slumps With Charges, Ad Troubles

    February 12, 2009 12:00 AM EST Viacom Inc, owner of MTV Networks and Paramount movie studio, reported sharply lower fourth quarter earnings, battered by an advertising slump, poor ratings at some of its key TV networks and a softening DVD market. Viacom's results for the q ...

  26. Viacom, Time Warner Cable Strike Deal

    January 01, 2009 12:00 AM EST After running past the initial midnight deadline and into 2009, Viacom and Time Warner Cable reached a tentative deal to keep MTV Networks' 19 channels on the MSO's 13.3 million households nationwide. Although Viacom threatened to shut o ...

  27. Blackout Looms As Time Warner, Viacom Talks Stall

    December 31, 2008 12:00 AM EST Viacom Inc and Time Warner Cable remained at a standoff on Wednesday, but were hopeful that top executives would step in to resolve a dispute that threatens to prevent more than 13 million U.S. subscribers from seeing "Dora the Explorer" ...

  28. MTV Cuts To Be Revealed Today

    December 04, 2008 12:00 AM EST The exact toll that media conglomerate Viacom Inc.'s just announced jobs cuts will take on the staff and structure of MTV will be delivered to that division's department heads today, according to an internal memo sent to employees from J ...

  29. Viacom To Cut 850 Jobs

    December 04, 2008 12:00 AM EST The media conglomerate Viacom Inc. said Thursday that it will slash about 850 jobs and freeze some senior-level raises in a move to weather the global economic downturn. The owner of MTV Networks, BET Networks and Paramount Pictures said the job c ...

  30. Viacom's Q3 Income Drops 37%

    November 04, 2008 12:00 AM EST A deteriorating television advertising market and movies that couldn't compete with last year's "Transformers" juggernaut caused Viacom on Monday to post third-quarter net income that fell 37%. Last year also benefited from a $ ...

  31. Media Execs: Grow Slow, Smart

    October 15, 2008 12:00 AM EDT While some investors think there are cheap opportunities in times of financial turbulence for patient companies with deep pockets, other executives speaking at the Media & Money conference in New York urged businesses to proceed with caution. ...

  32. Last.fm Teams With CBS's 'Swingtown'

    June 03, 2008 12:00 AM EDT Last.fm has teamed with CBS summer series "Swingtown" to play songs featured on the show. Starting with the show's premiere on June 5, each song will receive a plug at the bottom of the screen directing viewers to listen to the trac ...

  33. CBS To Buy CNET For $1.8 Billion

    May 15, 2008 12:00 AM EDT CBS Corporation will acquire CNET Networks, the parent company of MP3.com, GameSpot.com and TV.com, among others, for $1.8 billion. According to the announcement, with the acquisition of CNET's family of sites, CBS Corp. will now be one of th ...

  34. Curry Joins Sheppard Mullin

    March 31, 2008 12:00 AM EDT Sheppard Mullin Richter & Hampton has added James Curry as a partner in the firm's entertainment and media group based in Century City, Calif. He was most recently with White O'Connor Curry, a firm he co-founded. Curry focuses on com ...

  35. CBS, AOL Combine Online Radio Networks

    March 07, 2008 12:00 AM EST The No. 2 U.S. radio broadcaster CBS Radio said on Friday it will combine its more than 150 online radio stations with AOL's more than 200 online stations. CBS Radio, a division of CBS Corp, will take over advertising sales, the companies sai ...

  36. Sony/ATV Wraps Up Famous

    January 09, 2008 12:00 AM EST Sony/ATV Music Publishing has acquired international administration rights to the Famous Music catalog from Universal Music Group, wrapping up full international control of the copyrights it acquired from Viacom last year. Shortly after Marty Band ...

  37. Redstone: Ads Will Pay The Way

    November 08, 2007 12:00 AM EST Viacom executive chairman and founder Sumner Redstone kicked off day two of the Media and Money conference in New York City today by providing three "insights" into the digital future for media companies. First, media companies must keep ...

  38. India's Network18 To Invest $90.5M In Viacom JV

    November 07, 2007 12:00 AM EST Indian media company Network18 said on Wednesday it would invest $90.5 million over three years in its joint venture with Viacom Inc, which will launch a Hindi-language general entertainment channel in India next year. The equal joint venture, Via ...

  39. CBS Buys Last.fm For $280 Million

    May 30, 2007 12:00 AM EDT CBS Corp. has acquired Last.fm for $280 million in cash. The deal, unveiled today, should significantly enhance the broadcast giant's online, mobile and social networking footprint, and enable it to explore synergies between the CBS Radio div ...

  40. Viacom, TV18 Launch India JV

    May 23, 2007 12:00 AM EDT Viacom Inc and New Delhi-headquartered diversified media company TV18 Group on Tuesday unveiled a new 50/50 joint venture, Viacom-18. The strategic alliance, which is subject to regulatory approval, will create a multi-platform entertainment compa ...

  41. Famous Sale Moves To Phase Two

    April 17, 2007 12:00 AM EDT Phase two of Viacom's sale of Famous Music Publishing is underway. Industry sources estimate anywhere from a few to as many as 10 bidders offered enough money or other incentives during the initial phase to make the second round of the sale. ...

  42. Famous Bidders Make Their Move

    April 12, 2007 12:00 AM EDT Letters of intent to bid on Famous Music Publishing were due yesterday to financial services firm UBS, which is managing the sale for Famous parent company Viacom. Viacom first publicly hinted at its intent to sell the publishing unit in February ...

  43. Viacom Sues Google, YouTube

    March 13, 2007 12:00 AM EDT MTV parent Viacom Inc. said on Tuesday that it was suing Google Inc. and its Internet video-sharing site YouTube for more than $1 billion over unauthorized use of its programming online. The lawsuit, the biggest challenge to date to Google's ...

  44. MTV Embraces Web Chaos To Regain Viewers

    March 07, 2007 12:00 AM EST MTV Networks, owner of the MTV and Comedy Central channels, is pushing a risky new Web strategy to win back young viewers from the likes of YouTube and MySpace. The network, which already has 150 Web sites in 162 countries, plans to build literall ...

  45. Famous On The Block?

    February 09, 2007 12:00 AM EST As thousands of industry members are flocking to Los Angeles this week for the Grammy Awards, Viacom lit a spark in the music publishing community. The global entertainment company announced that it "has decided to explore strategic alternati ...

  46. CBS Ramps Up Mobile Effort, Creates New Unit

    February 08, 2007 12:00 AM EST CBS Interactive has created a new division -- CBS Mobile -- to handle all mobile related initiatives across such properties as CBS Sports, CBS News and CBS Entertainment. Leading the effort will by Cyriac Roeding, formerly VP of Wireless, whose ne ...

  47. Viacom Demands YouTube Remove Videos

    February 05, 2007 12:00 AM EST Viacom Inc. on Friday demanded that Google Inc.'s online video service YouTube remove more than 100,000 video clips after they failed to reach a distribution agreement. Viacom said it sent a notice to YouTube on Friday morning asking the popu ...

  48. MTVN Exec Shake-Up

    January 16, 2007 12:00 AM EST According to reports, MTV Networks' president and COO Michael Wolf will exit the company in February, a mere 15 months after assuming the position. Also exiting MTVN is Nicole Browning, president of affiliate sales and marketing, who's b ...

  49. MTV Japan's Flux Broadens To Internet

    October 23, 2006 12:00 AM EDT Viacom International Japan today (Oct. 23) launched a broadband version of its "Flux" mobile entertainment community. Viacom International Japan today (Oct. 23) launched a broadband version of its "Flux" mobile entertainment co ...

  50. Freston Exits Viacom, Dauman Takes Over

    September 05, 2006 12:00 AM EDT Exec resigns after 26 years. Tom Freston, president/CEO of MTV parent Viacom, has resigned after 26 years service, the company's board of directors said on Monday (Sept. 4). In his place the board has appointed Philippe Dauman as president an ...

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