Moonves Upbeat About CBS, Still Interested In Selling Smaller Stations
June 3, 2010 at 5:08 AM (PT)
CBS CORPORATION CEO LES MOONVES sounded a positive note about his company to analysts at the SANFORD C. BERNSTEIN AND CO. Strategic Decisions Conference, saying that he feels good about CBS' prospects and noting that the television network will likely sell about 80% of primetime ad inventory in upfront negotiations, 15% ahead of last year, driven by higher rates.
MOONVES reiterated that while he doesn't want to sell any of the company, he might be interested in selling off the company's medium-market radio stations and small-market TV stations. "Do I want to get rid of any of my children?," asked MOONVES. "No." He also said that the company isn't looking to buy any properties ("Maybe some NBC stations? Just kidding," MOONVES joked).
MOONVES also discussed the company's plans to create local web portals to leverage television and radio content against local newspapers, with no launch date disclosed.