CBS SPLITS OFF RADIO "NETWORK TEN" BUY COMPLETED - CBS Corporation
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Vol. 18, No. 930, Nov. 29, 2017 Dick Wien, Editor / rwien@cbs.com / 212-975-5607
CBS SPLITS OFF RADIO...
“NETWORK TEN” BUY COMPLETED
CBS CORPORATION COMPLETES ACQUISITION CBS CORPORATION COMPLETES
OF “NETWORK TEN” IN AUSTRALIA SPLIT-OFF OF CBS RADIO
In a transaction that adds to CBS On Nov. 17, CBS
Corporation’s global content and distri- Corporation
bution portfolios, on Nov. 16, CBS announced the com-
announced the completion of its “The separation of our pletion of the split-off of CBS
radio business is part of a Radio Inc., which was
acquisition of Network Ten, one of broader strategy to make
three major commercial broadcast networks in Australia. CBS even more focused merged with a subsidiary of
on our content and all the
In addition to core linear channel TEN, the deal includes ways we can monetize it. Entercom Communications
We started on this path Corp. through a “Reverse
digital terrestrial television (DTT) channel ELEVEN, several years ago with the
which CBS already had a stake in. Also added is the split-off of our outdoor Morris Trust” transaction. The
advertising business. And
DTT channel ONE and Network Ten’s rapidly growing just as we did with out- closing of the merger fol-
door, we believe our radio lowed the previously
digital platform, TENPLAY. transaction will allow us
to unlock more value for announced expiration of the
our shareholders and fur- Company’s exchange offer.
Noted CBS Chairman and CEO Leslie Moonves: “The ther grow our revenue. As
closing of this acquisition marks the beginning of an a result, we think CBS will For details, go to
be even better positioned
exciting opportunity to build and expand on our close to take advantage of all http://tinyurl.com/y8os5nd2
the new growth opportu-
working relationship and the great legacy of Network Ten nities before us, and we
in Australia, and to pave the way for further multiplatform feel very good about our And... On Nov. 21, CBS
future as a pure content Corporation announced the
distribution opportunities for CBS content. I believe our Company.”
ownership helps ensure that Network Ten’s business will final results of its offer to
-- Leslie Moonves,
grow long-term, while also benefiting the Australian Chairman and Chief shareholders to exchange
Executive Officer, CBS their issued and outstanding
Media sector as a whole. We look forward to welcoming Corporation
Ten and its employees to the CBS family.” shares of CBS Class B com-
mon stock for shares of CBS Radio Inc. common stock
(More news on page 2) owned by CBS as part of its agreement to combine CBS
Radio with a subsidiary of Entercom Communications Corp.
For details, go to http://bit.ly/2zUXxk1
TELEVISION CBS AND DISH REACH
CONTENT CARRIAGE AGREEMENT
CBS Corporation and DISH Network Corporation have
reached a multi-year agreement for carriage of CBS-owned
stations across the country, as well as CBS Sports
Network, POP and Smithsonian Channel. Financial terms
of the deal were not disclosed.
TELEVISION STATIONS
l The Public Relations Society of
America-California Capital Chapter
has named KOVR/KMAX Sacramento
its “2017 Influential Media Partner.” This
Top (L-R): S.W.A.T. star Shemar Moore; 9JKL ensemble
stars. Bottom (L-R): SUPERIOR DONUTS and MAN annual award recognizes a person or
WITH A PLAN.
organization that has gone “above and
beyond to build productive and positive
l CBS has given a full-season order to new drama working relationships with the region’s public relations
series S.W.A.T. and has picked up three additional professionals.” Noted the Society: “Through its respon-
episodes of new comedy 9JKL for the 2017-2018 broad- siveness and ongoing willingness to help share the
cast season. S.W.A.T is produced by Sony Pictures many successes happening throughout our region, the
Television in association with CBS Television Studios. team at KOVR & KMAX has been willing to shine a light
9JKL is produced by the CBS Television Studios. In on the stories that matter to our community and to part-
addition, CBS has given full season orders to Monday ner positively with the public relations practitioners who
night comedies MAN WITH A PLAN and SUPERIOR help connect them.” KOVR/KMAX anchor Ken Rudulph
DONUTS. Both series are produced by CBS Television accepted the award (picture above).
ion Studios.
l Veteran CBS News journalist Jeff PUBLISHING
Glor will officially take the reins as the
new anchor of CBS EVENING NEWS l At the National
on Dec. 4. Book Awards gala on
Nov. 15, Jesmyn
l THE LATE Ward won the 2017
SHOW with Award in fiction for
STEPHEN COLBERT registered its her novel Sing
first November late night victory, win- Unburied Sing
ning the sweep by +1.1 million view- (Scribner). In addi-
ers while dramatically narrowing the tion, Annie Proulx (photo at right) was honored with the
adults 18-49 viewer gap. (Source: Lifetime Achievement Award for her “significant impact
NTI) on American literature.” For more information, go to
http://tinyurl.com/yc78v49x
And... CBS THIS MORNING and Refinery29 are
collaborating on a series of reports called “M(Y) (Continued on page 3)
Generation,” which will explore issues and trends vital to
the lives of millennial women.
2
“WATCH!” THESE COVERS
The November/December
issue of Watch! magazine
fetures on its covers S.W.A.T.
star Shemar Moore at the
Wailea Beach Resort in Maui;
CBS SUNDAY MORNING
anchor Jane Pauley inter-
viewed by her friend and col-
league, CBS SUNDAY MORN-
ING co-host Gayle King; and
BULL’s Michael Weatherly,
who gamely strolled the streets
of SoHo in winter clothes on one of the steamiest days of summer. In addition, Candice Patton, the star of THE FLASH on The
CW, traveled to Jamaica for a tropical fashion spread, and there’s a Q&A with Linda Lavin (CBS’ 9JKL and a feature on Beth
Mowins, CBS Sports’ first woman NFL play-by-play commentator, among other features. For more information, go to
http://bit.ly/2AjcnlA
(PUBLISHING, continued)
Janesville: An American Story by
Amy Goldstein has won the 2017
Financial Times and McKinsey
Business Book of the Year Award.
Goldstein is the first woman to win the
award as a solo female author.
CBS IS&T HOSTS ANNUAL “VOLUNTEER DAY”
l On Oct. 19, CBS IS&T hosted their annual
Volunteer Day during which 60 volunteers were split
between New York, Atlanta and Los Angeles. The pro-
jects included Citymeals on Wheels, Covenant House
CBS volunteers at (top L-R) Covenant House and
and Ronald McDonald House in New York; MEND in Ronald McDonald House; (bottom L-R) MEND and
Los Angeles; and Open Hand in Atlanta. The volunteers Open Hand
at Citymeals hand-delivered meals that would feed the
to organize the clothing department. The volunteers
elderly through the upcoming week. The Ronald
at Open Hands delivered 192 meals to 64 clients in
McDonald volunteers spent the day cleaning newly reno-
the metro Atlanta area who are homebound, dis-
vated rooms, organizing a storage closet and assisting
abled or too sick to prepare their own food.
with IT services. The Covenant House volunteers sorted
and organized the clothing room for the children in the
shelter. The volunteers at MEND in Los Angeles helped
(Continued on page 4)
3
PEOPLE
l On Nov. 14, Simon & Schuster announced a new leadership
team for its sales division, promoting longtime sales executives
Gary Urda and Colin Shields to Senior Vice President, Sales, and
Vice President, Executive Director of Global Digital and International
Sales, respectively. Urda most recently served as Vice President
and Director of Distributor Sales and Retail Management. Shields
has held the position of Vice President, Director of Global Digital
Gary Urda Colin Shields Michael Selleck and Online Sales since 2015. The creation of this new leadership
team comes upon the announcement of Michael Selleck’s plan to
retire as Executive Vice President, Sales and Marketing, at the end of the year. “Michael has been a
remarkable mainstay and leader in our business and daily life at Simon & Schuster for 33 years,” said
Simon & Schuster President and CEO Carolyn Reidy. “Whether working in operations, marketing or sales,
he has been enormously influential and contributed in countless ways to the successes we have enjoyed
for our authors and as a company. We will surely miss him and wish him all the best in his post–Simon &
Schuster life.”
And... Michael Perlman has been named Vice President, General Manager of Simon & Schuster
Publisher Services. He previously served as Vice President, Client Sales and Services. Michael
Perlman
CBS DIVERSITY AND INCLUSION HONORS Beasley Broadcast Group; Amy Emmerich, Chief
WOMEN WHO HAVE “PAVED THE WAY” Content Officer, Refinery29; Kathleen Finch, Chief
Programming, Content and Brand Officer, Scripps
l Recently, CBS Network; Susan Swain, Co-CEO and President, C-
Diversity and Inclusion SPAN; and Julie Talbott, President, Premiere
sponsored The Alliance Networks. Josie Thomas, EVP, Chief Diversity and
for Women in Media “Women Who Lead” luncheon, an Inclusion Officer, CBS Corporation, is on the executive
event that honors women who have paved the way as committee of the Alliance for Women in Media
change-agents to shape the media industry. The event National Board.
was keynoted by Geraldine Laybourne, Media
Entrepreneur and Co-Founder of Oxygen Media, who
discussed her own career trajectory, the current state of UPDATE is published by CBS Communications Group.
Gil Schwartz, Senior Executive Vice President
Hollywood and standing up to bullies. Among those who Richard Wien, Editor, x5607 (NY)
were honored included: Caroline Beasley, CEO,
CAUTIONARY STATEMENTS REGARDING
FORWARD-LOOKING STATEMENTS
This newsletter may include "forward-looking statements" within the meaning of section 27A of the Securities
Act of 1933 and section 21E of the Securities Exchange Act of 1934. Forward-looking statements inherently
involve risks and uncertainties that could cause actual factual results to differ materially from the forward-
looking statements, including those due to changes in economic, business, competitive, technological, strate-
gic and/or regulatory factors, and other factors affecting the operations of the businesses of the CBS
Corporation. CBS Corporation's news releases and filings with the Securities and Exchange Commission includ-
ing but not limited to its most recent Form 10-K, Form 10-Q and 8-Ks, contain a description of factors that
could affect future results. The forward-looking statements are made only as of the date of this document and
we do not undertake to update any forward-looking statements to reflect subsequent events or circumstances.
For more information about CBS Corporation, see the Company's news releases and filings with the Securities
and Exchange Commission which can be found on the CBS Corporation website, www.cbscorporation.com in
the "News" and "Investor Relations" sections, respectively.
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