CBS President Thinks Company Still Owns Parks...

[The Interpreter]

7. Moonves: Simon & Schuster Is Not For Sale

by David Goetzl

CBS Corp. President-CEO Leslie Moonves, who has indicated that Simon & Schuster offers few synergies with the company's other assets, said the book publisher is not currently on the block, though he didn't rule out an eventual sale.

"At the moment, there are no plans to do anything with it," he said yesterday at a Goldman Sachs investor conference in New York.

***Moonves said that CBS has prioritized selling Paramount Parks and a collection of radio stations.***  (emphasis added)

"We don't like our company to be seen as a fire sale," he said.

Also yesterday, Moonves echoed several themes from previous appearances before investors: CBS's interest in launching a modest movie studio and in extracting retransmission consent fees for carriage of the flagship network.

The movie studio would make low-budget, low-risk films for CBS's Showtime pay-cable network, the CBS network itself and international distribution, he said.

"We would only go in on a very conservative basis," he said.

On retransmission consent, he reiterated a belief that CBS Corp.'s split with Viacom allows the company to charge cable and satellite operators to carry owned and operated CBS stations. As part of Viacom, carriage deals would be fused with MTV Networks.

"We're a freestanding company without major cable assets to pull us down in that area," he said.

http://publications.mediapost.com/index.cf...-20&art_type=10

Should someone tell him CBS has already sold the parks???

[Gordon Bombay]

What an idiot, this guy makes more money in a day than I will probably ever see in my life and he doesnt even keep track of what gives him that money.

[Avatar]

I am in no way defending Moonves but after reading the article above I came away from it as they have put a priority on the sale of the parks and radio stations as in; seeing the deal go through completion. Also the remark about not wanting to appear as having a fire sale would mean that he would like to space sales out a bit. Which would mean to me is that he was well aware of the Parks sale. Again I’m really not a fan of Mr. Moonves.

[jzarley]

I'll give the guy the benefit of a doubt that he knew where that extra $1.24B came from in Q2...

After all, change the "has" to "had" in the third paragraph and it becomes a little more reasonable. My first instinct is always to question the accuracy of the reporter (and I'm a J-school graduate )

On a somewhat related note...did everyone see where Tom Freston left Viacom? Between he and Les, Freston was always rumored to have been Redstone's favorite...

[CoastersNSich]

What an idiot, this guy makes more money in a day than I will probably ever see in my life and he doesnt even keep track of what gives him that money.

Not to mention that they've sold the parks to a company that, I believe, can do a better job than they ever could have done.

[The Interpreter]

...That's a reasonable reading. I just have to believe the man knows where $1.24 billion came from, but his way of putting that can lead the reader to either conclusion. Separately, Redstone just took a huge pay cut. I feel so sorry for him!

[Guest kwindshawne]

7. Moonves: Simon & Schuster Is Not For Sale

by David Goetzl

CBS Corp. President-CEO Leslie Moonves, who has indicated that Simon & Schuster offers few synergies with the company's other assets, said the book publisher is not currently on the block, though he didn't rule out an eventual sale.

"At the moment, there are no plans to do anything with it," he said yesterday at a Goldman Sachs investor conference in New York.

***Moonves said that CBS has prioritized selling Paramount Parks and a collection of radio stations.***  (emphasis added)

"We don't like our company to be seen as a fire sale," he said.

Also yesterday, Moonves echoed several themes from previous appearances before investors: CBS's interest in launching a modest movie studio and in extracting retransmission consent fees for carriage of the flagship network.

The movie studio would make low-budget, low-risk films for CBS's Showtime pay-cable network, the CBS network itself and international distribution, he said.

"We would only go in on a very conservative basis," he said.

On retransmission consent, he reiterated a belief that CBS Corp.'s split with Viacom allows the company to charge cable and satellite operators to carry owned and operated CBS stations. As part of Viacom, carriage deals would be fused with MTV Networks.

"We're a freestanding company without major cable assets to pull us down in that area," he said.

http://publications.mediapost.com/index.cf...-20&art_type=10

Should someone tell him CBS has already sold the parks???

What a dumb ass-too many american companies are like this though...

[WooferBearATL]

I don't seem to read it the same way.

Seems that he's just emphacised what the priorities have been.

I don't see a problem with it.

[scotty]

Keep in mind, this is the same idiot that told Howard Stern it was OK to say he was leaving terrestrial radio and going to Satellite. This generated a lot of listeners in the last few days (and of course made a lot more revenue from advertisers) as people wanted to hear the last shows. Then the idiot tried to sue Howard for loosing money. He pulled the plug on him many times in the past, but didn't do it in the end, and tried to sue. What a Jackass.

[King Bowser]

That guy is a jackass I'm happy paramount is gone for two reasons 1.they were cheap on attractions & 2.They removed so many classic rides with explantion.