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Information about Cbs Corporation

''This article describes the present CBS Corporation. For the CBS broadcasting networks, see CBS. From 1997 to 2000, there was a prior instance of CBS Corporation, previously named Westinghouse Electric, that was later purchased by Viacom.


CBS Corporation
Public (NYSE: CBS, NYSE: CBSA)
Founded1986[1]
HeadquartersNew York, New York, USA
Key peopleSumner Redstone, Chairman (through National Amusements, owns a controlling amount of voting shares)
Leslie Moonves, President & CEO
IndustryBroadcasting & Publishing
ProductsCBS, The CW, CBS Radio, more...
RevenueUS$14.536 billion (2005)
Operating incomeUS$6.818 billion (2005)
Net incomeUS$7.089 billion (2005)
Websitewww.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. The President and CEO of the company is Leslie Moonves. Sumner Redstone, whose company National Amusements is CBS's majority shareholder, serves as Chairman. The company came into being on December 31, 2005 and began trading on the NYSE on January 3, 2006. It is the legal successor to the "old" Viacom.[2]

History

Viacom was created in 1970 as the television syndication division of CBS, and was spun off in 1971. However, in 1999, Viacom acquired its former parent, by this time also named CBS Corporation, formerly Westinghouse Electric Corporation. The prior CBS Corporation also owned CMT and The Nashville Network (now Spike TV), 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.

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).

On June 14, 2005, the Viacom board of directors approved the split of the company into two firms. 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. 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. 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.[3] 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.

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. 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.

CBS announced on November 3 2005, that it would acquire College Sports TV (CSTV) for US$325 million. CEO of CSTV Brian Bedol will continue to run that network and report to Leslie Moonves, chairman of CBS. 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. 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.

Shows included are , Horseland, Madeline, Dance Revolution and many others.[4] It was originally supposed to be called "CBS's Saturday Morning Secret Slumber Party" but was renamed with KOL's alliance.[5]

2007

The CW Television Network

Main article: The CW Television Network
On January 24 2006, CBS Corporation and Time Warner announced that they were to create a new broadcast network, The CW Television Network. The network officially debuted on September 18 2006. The network formally debuted on September 20 with the 2 hour premiere of America's Next Top Model.

The network is the result of a merger of The WB Television Network (a Time Warner holding) and UPN (a CBS Corporation holding). 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.

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. On May 23 2006, CBS Corp. sold Paramount Parks to the Cedar Fair Entertainment Company. 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$1.24 billion.

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 Turnover5.35.36.16.66.5
Receivables - Number of Days86.268.454.653.458.5
Inventory Turnover8.810.311.711.010.0
Inventory - Number of Days41.035.030.832.736.2
Gross Property, Plant & Equipment Turnover2.82.92.52.52.5
Net Property, Plant & Equipment Turnover4.54.84.44.03.7
Depreciation, Depletion & Amortization -
% of Gross Property, Plant & Equipment9.8%10.4%9.4%9.6%32.9%
Depreciation, Depletion & Amortization -
Year to Year Change (Millions US Dollars)-31.1-19.05.4-213.986.1
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

  • Viacom (1971-2005), the prior name of the post-2005 CBS Corporation.
  • CBS Corporation (1997), an old instance of the company, purchased by the old Viacom in 1999,
  • Viacom, the current Viacom, broke off in 2005.
  • CBS Mandate, the logo/branding guidelines used on TV stations owned by CBS Corporation.

Footnotes

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. 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. ^ www.cbscorporation.com/media/pdf/CleanShareholderletterS.pdf (PDF).
3. ^ www.cbscorporation.com/media/pdf/CleanShareholderletterS.pdf (PDF).
4. ^ www.cbscorporation.com/news/prdetails.php?id=469.
5. ^ mediaweek.com/mw/news/networktv/article_display.jsp?vnu_content_id=1002725721.
6. ^ www.cbscorporation.com/news/prdetails.php?id=1624.
7. ^ www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20070213/GPG03/70213117/1978.
8. ^ CBS Invests in Virtual World Content Developer.
9. ^ CBS acquires an online high school sports network InfoNIAC
10. ^ CBS Corporation Announces the Creation of the CBS Interactive Audience Network, Yahoo!, April 12, 2007
11. ^ Music site Last.fm bought by CBS, BBC, May 30, 2007

External links

 •  • [ e]
CBS Corporation
Corporate Directors: David R. Andelman Joseph A. Califano, Jr. William S. Cohen Philippe Dauman Charles K. Gifford Bruce S. Gordon Leslie Moonves Shari Redstone Sumner Redstone Ann N. Reese Judith A. Sprieser Broadcast radio stations  CBS Radio
Radio Networks: CBS Radio Network Free FM Westwood One
Broadcast Television Networks: CBS The CW (co-owned with Time Warner)
Television Production and Distribution: Big Ticket Television CBS Broadcast Center CBS Paramount Television CBS Studio Center CBS Television City Spelling Television CBS Television Distribution CBS Studios
 owned by CBS Television Stations
Cable Television Networks: Showtime Networks College Sports TV MountainWest Sports Network
Web properties: CBS Interactive CBS Innertube Last.fm
Publishing: Simon & Schuster
Miscellaneous Assets: CBS Consumer Products CBS Records CBS Outdoor Westinghouse Electric Corporation CBS Properties CBS Home Entertainment CBS Feature Films CBS Games
Annual Revenue: $14.54 billion USD (2005) Employees: Unknown at this time.
Stock Symbol: NYSE: CBS, NYSE: CBSA Website: www.cbscorporation.com
CBS Broadcasting, Inc. (CBS)

Type Broadcast radio network and
television network
Country  United States
Availability    National; also available in  Canada,  Mexico, and the Caribbean
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Westinghouse Electric Corporation was an organization founded by George Westinghouse in 1886 as Westinghouse Electric & Manufacturing Company. The company purchased CBS in 1995 and was renamed CBS Corporation in 1997.
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A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
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1983 1984 1985 - 1986 - 1987 1988 1989

Year 1986 (MCMLXXXVI
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City of New York
New York City at sunset

Flag
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Nickname: The Big Apple, Gotham, The City that Never Sleeps
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Motto
"In God We Trust"   (since 1956)
"E Pluribus Unum"   ("From Many, One"; Latin, traditional)
Anthem
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Sumner Murray Redstone (born Sumner Murray Rothstein on May 27 1923 in Boston, Massachusetts) is majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, he is majority owner of Midway Games, Viacom and CBS Corporation.
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National Amusements, Inc.

Private
Founded Dedham, Massachusetts (1936)
Founder Michael Redstone
Headquarters Dedham, Massachusetts

Key people Sumner Redstone, Chairman & CEO
Shari Redstone, President
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Leslie Moonves (born December 23, 1948 in New York City) is President and Chief Executive Officer of CBS Corporation. He grew up in Valley Stream, NY, and is a graduate of Valley Stream Central High School.
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Industry (from Latin industrius, "diligent, industrious"), is the segment of economy concerned with production of goods. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day.
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Broadcasting is the distribution of audio and/or video signals which transmit programs to an audience. The audience may be the general public or a relatively large sub-audience, such as children or young adults.
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Publishing is the process of production and dissemination of literature or information – the activity of making information available for public view. In some cases, authors may be their own publishers.
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Aspinwall Classification System (Leo Aspinwall, 1958) classifies and rates products based on five variables:
  1. Replacement rate (How frequently is the product repurchased?)
  2. Gross margin (How much profit is obtained from each product?)

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CBS Broadcasting, Inc. (CBS)

Type Broadcast radio network and
television network
Country  United States
Availability    National; also available in  Canada,  Mexico, and the Caribbean
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The CW Television Network

Type Broadcast television network
Country  United States
Availability     United States
 Canada
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Slogan Get Into The CW
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CBS Radio Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, third behind main rival Clear Channel Communications (which interestingly owns many of the radio stations previously owned
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Revenue is a business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers.
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United States dollar
dólar estadounidense (Spanish)
dólar amerikanu (Tetum)
dólar americano
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2005 by topic:
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Jan - Feb - Mar - Apr - May - Jun
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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.[1]

EBIT = Operating Revenue – Operating Expenses + Non-operating Income
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20th century - 21st century - 22nd century
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Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. Net income can be distributed among holders of common stock as a dividend or held by the firm as retained earnings.
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20th century - 21st century - 22nd century
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2002 2003 2004 - 2005 - 2006 2007 2008

2005 by topic:
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Jan - Feb - Mar - Apr - May - Jun
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A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
..... Click the link for more information.
New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
..... Click the link for more information.
Motto
"In God We Trust"   (since 1956)
"E Pluribus Unum"   ("From Many, One"; Latin, traditional)
Anthem
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A media conglomerate describes companies that own large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet.

Terminology


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