CBS Corporation (NYSE The New York Stock Exchange is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, USA. It is the world's largest stock exchange by market capitalization of its listed companies at US$12.25 trillion as of May 2010. Average daily trading value was approximately US$153 billion in 2008: CBS, NYSE The New York Stock Exchange is a stock exchange located at 11 Wall Street in lower Manhattan, New York City, USA. It is the world's largest stock exchange by market capitalization of its listed companies at US$12.25 trillion as of May 2010. Average daily trading value was approximately US$153 billion in 2008: CBSA) is an American ^ b. English is the de facto language of American government and the sole language spoken at home by 80% of Americans age five and older. Spanish is the second most commonly spoken language media conglomerate A media conglomerate describes companies that own large numbers of companies in various mass media such as television, radio, publishing, movies, and the Internet. It is also referred to as media institutions and media groups focused on broadcasting Broadcasting is the distribution of audio and/or video signals which transmit programs to an audience. Receiving parties may include the general public or a relatively large subset of the whole, such as children or young adults, publishing 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, meaning: originators and developers of content also provide media to deliver and display the content, billboards A billboard is a large outdoor advertising structure , typically found in high traffic areas such as alongside busy roads. Billboards present large advertisements to passing pedestrians and drivers. Typically showing large, ostensibly witty slogans, and distinctive visuals, billboards are highly visible in the top designated market areas, and television Television is a widely used telecommunication medium for transmitting and receiving moving images, either monochromatic ("black and white") or color, usually accompanied by sound. "Television" may also refer specifically to a television set, television programming or television transmission. The word is derived from mixed Latin production, with most of its operations in the United States. The President A president is a leader of an organization, company, trade union, university, or country and CEO A chief executive officer or chief executive is the highest-ranking corporate officer (executive) or administrator in charge of total management of an organization. An individual appointed as CEO of a corporation, company, organization, or agency reports to the board of directors of the company is Leslie Moonves. Sumner Redstone Sumner Murray Redstone is majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, Sumner Redstone and his family are majority owners of CBS Corporation, Viacom, and MTV Networks, BET, and movie production and distribution Paramount Pictures and DreamWorks movie studios, and are equal partners, owner of National Amusements National Amusements, Inc. is a privately owned media and entertainment company based in Dedham, Massachusetts, USA. The company was founded in 1936 as the Northeast Theatre Corporation by Michael Redstone, is CBS's majority shareholder & serves as Chairman The chairman is the highest office of an organized group such as a board, committee, or deliberative assembly. The person holding the office is typically elected or appointed by the members of the group. The chairman presides over meetings of the assembled group and conducts its business in an orderly fashion. When the group is not in session, the. The company began trading on the NYSE on January 3, 2006. Until then, the corporation was known as Viacom The original Viacom began life as CBS Films, Inc., the television syndication division of CBS. In 1971, the division was renamed VIACOM , and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repealed), and is the legal successor to said company.[4] A new company, keeping the Viacom Viacom (NYSE: VIAB)(NYSE: VNV), short for "Video & Audio Communications" name was spun off from CBS. CBS, not Viacom, retains control of the partial The CW Television Network is a television network in the United States launched at the beginning of the 2006–2007 television season. It is a joint venture between CBS Corporation, the former owners of United Paramount Network (UPN), and Time Warner's Warner Bros., former majority owner of The WB Television Network. The "CW" name is and total CBS Broadcasting Inc. is a major American television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of the company's logo. It has also been called the " over-the-air television & radio CBS Radio, Inc., formerly known as Infinity Broadcasting Corporation, is one of the largest owners and operators of radio stations in the United States, fourth in size behind main rival Clear Channel Communications , Cumulus Media and Citadel Broadcasting and second in terms of revenue. The corporation owns around 130 radio stations across the broadcasting, TV production CBS Television Studios (formerly CBS Paramount Television, Desilu Productions, Paramount Television, among other companies) is an American television production/distribution company that was formed on January 17, 2006 by CBS Corporation merging Paramount Television and CBS Productions. It is the television production arm of the CBS network (CBS & distribution CBS Television Distribution is a global television distribution company, a merger of CBS Corporation's three television distribution arms CBS Paramount Domestic Television, CBS Paramount International Television, and King World Productions including its home entertainment arm CBS Home Entertainment. The division, the main distribution arm of CBS , publishing Simon & Schuster, Inc., a division of CBS Corporation, is a publisher founded in New York City in 1924 by Richard L. Simon and M. Lincoln Schuster. It is one of the four largest English-language publishers, alongside Random House, Penguin, and HarperCollins. It publishes over two thousand titles annually under 35 different imprints, pay-cable, recording CBS Records is a record label founded by CBS Corporation in 2006 to take advantage of music from its entertainment properties owned by CBS Television Studios. The initial label roster consisted of only three artists; rock band Señor Happy and singer/songwriters Will Dailey and P.J. Olsson, and outdoor advertising CBS Outdoor is the outdoor advertising division of media conglomerate CBS Corporation. It is the third largest outdoor media owner in revenue terms. It operates in markets including the United States, Canada, Mexico, Argentina, Brazil, Chile, Uruguay, China, the Netherlands, France, Ireland, Italy, Spain, and the United Kingdom. Americas division assets formerly owned by the larger company. However, National Amusements, through Redstone, retains majority control of both firms. CBS has its headquarters in Midtown Manhattan Midtown Manhattan, or simply Midtown, is an area of Manhattan, New York City home to world-famous commercial zones such as Rockefeller Center, Broadway, and Times Square. Midtown Manhattan is home to the city's tallest and most famous buildings such as the Empire State Building and Chrysler Building, New York City New York is the most populous city in the United States, and the center of the New York metropolitan area, which is one of the most populous metropolitan areas in the world. A leading global city, New York exerts a powerful influence over global commerce, finance, media, culture, art, fashion, research, education, and entertainment. As host of the.[5]

Contents

History

Early years

Main article: Viacom (1971-2005) The original Viacom began life as CBS Films, Inc., the television syndication division of CBS. In 1971, the division was renamed VIACOM , and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repealed)

Viacom The original Viacom began life as CBS Films, Inc., the television syndication division of CBS. In 1971, the division was renamed VIACOM , and in 1973 it was spun off, amid new FCC rules forbidding television networks from owning syndication companies (the rules were later repealed) was created in 1970 as the television syndication In broadcasting, syndication is the sale of the right to broadcast radio shows and television shows to multiple individual stations, without going through a broadcast network. It is common in countries where television is scheduled by networks with local affiliates, particularly in the United States. In the rest of the world, however, most division of CBS CBS Broadcasting Inc. is a major American television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of the company's logo. It has also been called the ", 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 Founded in 1886 as Westinghouse Electric Company and later renamed Westinghouse Electric Corporation by George Westinghouse. The company purchased CBS in 1995 and was renamed CBS Corporation in 1997. George Westinghouse had previously founded the Westinghouse Air Brake Company. The prior CBS Corporation also owned CMT Country Music Television, or CMT, is an American country music-oriented cable television network. Programming includes music videos, taped concerts, movies, biographies of country music stars, and reality programs. CMT is owned and operated by MTV Networks, a subsidiary of Viacom and The Nashville Network Spike , a division of MTV Networks, is an American cable channel designed for an audience described demographically as "young adult males". The channel began life as The Nashville Network (TNN), founded by WSM, Inc. (a subsidiary of National Life and Accident Insurance Company) in a joint venture with Group W Satellite Communications on (now Spike Spike , a division of MTV Networks, is an American cable channel designed for an audience described demographically as "young adult males". The channel began life as The Nashville Network (TNN), founded by WSM, Inc. (a subsidiary of National Life and Accident Insurance Company) in a joint venture with Group W Satellite Communications on), which remained Viacom properties after the 2005 split, but the prior CBS did not own UPN United Paramount Network was a television network that broadcast in over 200 markets in the United States from 1995 to 2006. UPN was originally owned by Viacom/Paramount and Chris-Craft Industries, the former of which (through the Paramount Television Group) produced most of the network's series. It was later owned by CBS Corporation. Its first, 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 The National Football League is the highest level of professional American football. It was formed by eleven teams in 1920 as the American Professional Football Association, with the league changing its name to the National Football League in 1922. The league currently consists of thirty-two teams from the United States. The league is divided rights and become MTV's corporate sibling).

Old Viacom logo

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.

The split was structured such that the "new" Viacom Viacom (NYSE: VIAB)(NYSE: VNV), short for "Video & Audio Communications" 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 two new companies began trading on the NYSE on January 3, 2006.

Sumner Redstone's company National Amusements remains the largest single shareholder of both CBS Corporation and the "new" Viacom.[citation needed]

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 The Sinclair Broadcast Group NASDAQ: SBGI is the operator of the largest number of local television stations in the United States with a total of 57 stations across the country in 35 primarily small and medium markets, many of which are located in the South and the Midwest. Broadcasts by SBG stations can be received by 24 percent of American. Viacom also acquired two stations in West Palm Beach.

2005

Viacom/CBS has announced it would sell several non-duopoly UPN affiliates, in Indianapolis Indianapolis , often abbreviated Indy (/ˈɪndi/), is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. The United States Census estimated the city's population, excluding the included towns, at 807,584 in 2009. It is Indiana's largest city and is the 14th largest city in the U.S., the third largest city in, Columbus Columbus is the capital and largest city in the U.S. state of Ohio, fourth largest city in the American Midwest, and the state's third largest metropolitan area, behind Cincinnati and Cleveland. It is the county seat of Franklin County. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and, New Orleans New Orleans (pronounced /njuː ˈɔrliənz/ or /ˈnjuː ɔrˈliːnz/, locally [nuː ˈɔrlənz] or [ˈnɔrlənz]; French: La Nouvelle-Orléans [la nuvɛlɔʁleɑ̃] ) is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area, (New Orleans–Metairie–Kenner) has a, and Oklahoma City Oklahoma City is the capital and largest city of the U.S. state of Oklahoma. The county seat of Oklahoma County, the city ranks 31st among United States cities in population. The city's estimated population, as of 2008, was 551,789, with an estimated metro-area population of 1,206,142. In 2008, the Oklahoma City-Shawnee Combined Statistical Area, with possibilities of additional sales.

CBS announced on November 3, 2005, that it would acquire College Sports TV (now CBS College Sports Network CBS College Sports Network is a multimedia network and the first dedicated exclusively to college sports 24 hours a day. It consists of CBS College Sports Network, a digital television service seen in more than 20 million homes via cable and satellite, and collegesports.com and its network of 215 official college websites) for US$ The United States dollar is the official currency of the United States. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents325 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 DIC Entertainment (Also known as The Incredible World of DIC and formerly D.I.C. Audiovisual, DIC Enterprises, DIC Animation City and DIC Productions) was an international film and television production company founded in 1971 as DIC Audiovisuel by frenchman Jean Chalopin in Paris, as a subsidiary of Radio-Television Luxembourg (RTL). The company' signed a multi-year deal to provide three hours of programming that meet FCC The Federal Communications Commission is an independent agency of the United States government, created, directed and empowered by Congressional statute (see 47 U.S.C. § 151 and 47 U.S.C. § 154), and with the majority of its commissioners appointed by the current President. The FCC works towards six goals in the areas of broadband, competition, standards for educational programming. The block would be called "KOL Secret Slumber Party on CBS" -- which is also a partnership with America Online's AOL Inc. , formerly known as America Online and logo typeset as "Aol.", is an American global Internet services and media company. AOL is headquartered at 770 Broadway in New York. Founded in 1983 as Quantum Computer Services, it has franchised its services to companies in several nations around the world or set up international versions KOL kids service and premiered on September 16, 2006.

Shows included are Sabrina, the Animated Series, Horseland, Madeline Madeline is a children's book series written by Ludwig Bemelmans, an American author of Belgian, Austrian and German origins. The books have been adapted into numerous formats, spawning telefilms, television series and a live action feature film. The adaptations are famous for having the closing line, first uttered by actress Ethel Barrymore in a, Dance Revolution and many others.[6] It was originally supposed to be called "CBS's Saturday Morning Secret Slumber Party" but was renamed with KOL's alliance.[7]

The CW
Main article: The CW The CW Television Network is a television network in the United States launched at the beginning of the 2006–2007 television season. It is a joint venture between CBS Corporation, the former owners of United Paramount Network (UPN), and Time Warner's Warner Bros., former majority owner of The WB Television Network. The "CW" name is The CW logo
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On January 24, 2006, CBS Corporation, and Warner Bros. Warner Bros. Entertainment, Inc., also known as Warner Bros. Pictures or simply Warner Bros. is an American producer of film and television entertainment announced that they were to create a new broadcast network, The CW Television Network The CW Television Network is a television network in the United States launched at the beginning of the 2006–2007 television season. It is a joint venture between CBS Corporation, the former owners of United Paramount Network (UPN), and Time Warner's Warner Bros., former majority owner of The WB Television Network. The "CW" name is. 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 (a Warner Brothers 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
Paramount Parks 2003-2005 logo 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.[citation needed]

2007

2008

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 Turnover 5.3 5.3 6.1 6.6 6.5
Receivables - Number of Days 86.2 68.4 54.6 53.4 58.5
Inventory Turnover 8.8 10.3 11.7 11.0 10.0
Inventory - Number of Days 41.0 35.0 30.8 32.7 36.2
Gross Property, Plant & Equipment Turnover 2.8 2.9 2.5 2.5 2.5
Net Property, Plant & Equipment Turnover 4.5 4.8 4.4 4.0 3.7
Depreciation, Depletion & Amortization
% of Gross Property, Plant & Equipment 9.8% 10.4% 9.4% 9.6% 32.9%
Depreciation, Depletion & Amortization
Year to Year Change (Millions US Dollars) -31.1 -19.0 5.4 -213.9 86.1
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

New York City portal
Companies portal

References

  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. ^ a b c CBS (CBS) annual SEC income statement filing via Wikinvest
  3. ^ a b CBS (CBS) annual SEC balance sheet filing via Wikinvest
  4. ^ "Certain Federal Income Tax Information Regarding the Separation of Viacom Inc." (PDF). CBS Corporation. January 12, 2006. http://www.cbscorporation.com/media/pdf/CleanShareholderletterS.pdf. Retrieved 2008-11-30.
  5. ^ "Contact Info." CBS Corporation. Retrieved on November 3, 2009.
  6. ^ "CBS AND DIC Entertainment Unveil 2006/07 Children's Programming Slate". Burbank, California: CBS Corporation. 2006-03-30. http://www.cbscorporation.com/news/prdetails.php?id=469. Retrieved 2008-12-27.
  7. ^ Consoli, John (June 21, 2006). "DIC, KOL to Produce On CBS". MediaWeek. Archived from the original on 2006-07-13. http://web.archive.org/web/20060713195740/http://www.mediaweek.com/mw/news/networktv/article_display.jsp?vnu_content_id=1002725721. Retrieved 2008-11-30.
  8. ^ "CBS Corporation To Sell Local TV Stations In Four Markets To Cerberus Capital Management, L.P". CBS Corporation. 2007-02-07. http://www.cbscorporation.com/news/prdetails.php?id=1624. Retrieved 2008-12-27.
  9. ^ [1]
  10. ^ "CBS Invests in Virtual World Content Developer". Archived from the original on 2007-07-26. http://web.archive.org/web/20070726224522/http://www.usb4ever.com/cbs-investment-p.html.
  11. ^ CBS acquires an online high school sports network InfoNIAC
  12. ^ CBS Corporation Announces the Creation of the CBS Interactive Audience Network, Yahoo!, April 12, 2007
  13. ^ Music site Last.fm bought by CBS, BBC, May 30, 2007
  14. ^ CBS Corporation to acquire CNET Networks, inc., CBS Press Release, May 15, 2008
  15. ^ "CNET's Content To Boost CBS Coverage". New York: cbs3.com. July 2, 2008. http://cbs3.com/consumer/cbs.cnet.purchase.2.761897.html. Retrieved 2008-12-27.

External links

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
Radio stations Broadcast radio stations CBS Radio
Broadcast television networks CBS · The CW (co-owned with Warner Bros.) · MTV Networks Africa (co-owned with MTV Networks)
Television facilities CBS Broadcast Center · CBS Studio Center · CBS Television City · Ed Sullivan Theater
CBS Television Studios CBS Studios, Inc. Big Ticket Entertainment · CBS Studios International · CBS Television Distribution
Television stations owned by CBS Television Stations
Cable television networks Showtime Networks · CBS College Sports Network · MountainWest Sports Network (joint-venture with Mountain West Conference and Comcast)
CBS Chellozone television networks CBS Action · CBS Drama · CBS Reality · Horror Channel
CBS Interactive CBS Innertube · CNET Networks · BNET · Download.com · FindArticles · GameFAQs · GameRankings · GameSpot · Metacritic · MovieTome · MP3.com · mySimon · TechRepublic · TV.com · VersionTracker · ZDNet · Wallstrip · MobLogic · MacFixIt · Last.fm · Radio.com
Simon & Schuster publishing Atria · Free Press · Gallery · Howard · Pocket · Scribner · Simon & Schuster · Touchstone/Fireside · Threshold · Aladdin · Atheneum · Beach Lane · Little Simon · Margaret K. McElderry · Paula Wiseman · Simon Pulse · Simon Spotlight
Miscellaneous assets CBS Consumer Products · CBS Records · CBS Outdoor · Westinghouse Electric Corporation · CBS Operations · CBS Home Entertainment · CBS Films · CBS Games
Defunct properties CBS Cable · CBS Paramount Domestic Television · CBS Paramount Network Television · Free FM · Infinity Broadcasting Corporation · Spelling Television · UPN (United Paramount Network)
Annual revenue: ▲ US$14.07 billion (2007) · Stock symbol: NYSE: CBS, NYSE: CBSA · Website: www.cbscorporation.com

Categories: Companies listed on the New York Stock Exchange | Companies based in New York City | Media companies of the United States | CBS Corporation subsidiaries | Companies established in 1986 | CBS Corporation

 

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