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CBS Corporation
Type
Public
Traded as
  • Class A NYSE: CBS.A
  • Class B non voting NYSE: CBS
  • S&P 500 Component (CBS)
Industry Mass media
Predecessors
  • Viacom Inc.
  • Westinghouse Electric Corporation
Founded January 8, 1886; 131 years ago (1886-01-08)
(as Westinghouse Electric)
1997; 20 years ago (1997)
(first era)
January 3, 2006; 11 years ago (2006-01-03) (relaunched as CBS Corporation)
Headquarters CBS Building, Manhattan, New York, United States
Area served
United States
Key people
Sumner Redstone
(Chairman Emeritus)
Leslie Moonves
(President, CEO, and Executive Chairman)
Products Movie production, TV production, Broadcasting, Cable television, Record label, Publishing, Internet
Revenue Increase US$13.88 billion (2015)
Operating income
Increase US$2.417 billion (2015)
Net income
Decrease US$1.413 billion (2015)
Total assets Increase US$23.76 billion (2015)
Total equity Increase US$5.563 billion (2015)
Owner National Amusements (80%)
Divisions CBS Entertainment
CBS Cable Networks
CBS Publishing
CBS Local Broadcasting
Subsidiaries
  • CBS Broadcasting
  • CBS Interactive
  • CBS Records
  • CBS Sports Network
  • CBS Television Distribution
  • CBS Television Studios
  • CBS Films
  • Westinghouse Licensing
  • Showtime Networks
  • Simon & Schuster
  • Digital assets of TV Guide
  • The CW (50%)
  • Pop TV (50%)
  • Full list of assets here
Website www.cbscorporation.com

CBS Corporation is an American mass media corporation focused on commercial broadcasting, publishing, and television production, with most of its operations in the United States. The president, chief executive and executive chairman of the company is Leslie Moonves. Sumner Redstone, owner of National Amusements, controls CBS by way of his majority ownership of the company's Class A voting stock; he also serves as chairman emeritus. It is currently the world's fifth largest entertainment company in terms of revenue, after Comcast, The Walt Disney Company, Time Warner, and 21st Century Fox. The company began trading on the NYSE on January 3, 2006. Until then, the corporation was known as Viacom, and is the legal successor to said company. A new company, keeping the Viacom name, was spun off from CBS. CBS, not Viacom, retains control of over-the-air television (CBS, CW) and radio broadcasting, TV production and distribution, publishing, pay-cable, basic cable (Pop), and recording formerly owned by the larger company. CBS has its headquarters in the CBS Building (colloquially called "Black Rock"), Midtown, Manhattan, New York City, United States.

Viacom was created in 1971 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. The prior CBS Corporation also owned CMT and The Nashville Network (now Spike), 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 becoming 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.

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.

With the split, the two new companies began trading on the NYSE on January 3, 2006. Investors anticipated Viacom benefiting from the split, but instead, it dropped approximately 20 percent, while CBS rose 9 percent.

Announced in January 2006, CBS and DIC Entertainment signed a multi-year deal in which DIC bought the Saturday morning airtime as "CBS's Saturday Morning Secret Slumber Party". In June 2006, DiC added a production partner AOL's KOL. Thus block would be called "KOL's Saturday Morning Secret Slumber Party on CBS".

On January 24, 2006, CBS Corporation, and Warner Bros. 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 (a Warner Brothers holding) and UPN (a CBS Corporation holding). CBS Corporation and Time Warner 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.

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 became 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. The transaction included a 10-year license that allowed Cedar Fair to use the Paramount name in the parks through the 2017 season.

On February 7, 2007, CBS announced it was selling seven stations in Providence, Rhode Island, Austin, Texas, Salt Lake City and West Palm Beach, Florida to Cerberus Capital Management for US$185 million. It sold another station, WFRV-TV in Green Bay, Wisconsin, and its satellite station, WJMN-TV in Escanaba, Michigan, to Liberty Media on February 13, 2007. News reports estimate the deal at about US$234 million. CBS is swapping the stations and US$170 million in cash for 7.59 million shares of CBS common stock held by Liberty Media.

On September 29, 2016, National Amusements sent a letter to both the company and Viacom, encouraging the two companies to merge back into one company. On December 12, the deal was called off.

The board of directors of CBS Corp. include:

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2020 2020-04-30 Future report Set alerts
Q4 2019 2020-02-12 Future report Set alerts
Q3 2019 2019-11-12 0.95 0.85
Q2 2019 2019-08-08 1.16 1.17
Q1 2019 2019-05-02 1.37 4.21
Q4 2018 2019-02-14 1.50 1.49
Q3 2018 2018-11-01 1.24 1.29
Q2 2018 2018-08-02 1.12 1.05
Q1 2018 2018-05-03 1.34 1.32
Q4 2017 2018-02-15 1.20 0.10

Ratings

2016-07-11 Downgrade Wells Fargo & Co. Buy
2016-07-07 Initiated Coverage Brean Capital Buy $65.00
2016-07-02 Reiterated Rating Needham & Company LLC Buy $65.00
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-29 Reiterated Rating Morgan Stanley Overweight
2016-06-25 Reiterated Rating Wells Fargo Outperform
2016-06-25 Reiterated Rating Wells Fargo & Co. Outperform
2016-06-17 Reiterated Rating Sanford C. Bernstein Market Perform
2016-05-27 Reiterated Rating Morgan Stanley Overweight
2016-05-23 Reiterated Rating Credit Suisse Outperform $75.00
2016-05-23 Reiterated Rating Credit Suisse Group AG Outperform $75.00
2016-05-22 Reiterated Rating Pacific Crest Hold
2016-05-20 Boost Price Target Telsey Advisory Group Outperform $63.00 to $67.00
2016-05-19 Reiterated Rating JPMorgan Chase & Co. Overweight
2016-05-06 Reiterated Rating Needham & Company LLC Buy $65.00
2016-05-05 Reiterated Rating Bank of America Buy $65.00
2016-05-05 Reiterated Rating Credit Suisse Buy
2016-05-05 Reiterated Rating Bank of America Corp. Buy $65.00
2016-05-04 Reiterated Rating Piper Jaffray Buy $60.00 to $65.00
2016-05-04 Reiterated Rating RBC Capital Outperform $68.00 to $70.00
2016-05-04 Reiterated Rating Wedbush Outperform $63.00 to $65.00
2016-05-04 Reiterated Rating FBR & Co. Outperform $66.00 to $68.00
2016-05-04 Reiterated Rating Pivotal Research Buy $63.00 to $64.00
2016-05-04 Boost Price Target Topeka Capital Markets Buy $64.00 to $66.00
2016-05-04 Reiterated Rating BMO Capital Markets Buy $60.00 to $63.00
2016-05-04 Reiterated Rating JPMorgan Chase & Co. Buy
2016-05-04 Reiterated Rating Piper Jaffray Cos. Buy $60.00 to $65.00
2016-05-04 Reiterated Rating Royal Bank Of Canada Outperform $68.00 to $70.00
2016-05-04 Reiterated Rating FBR & Co Outperform $66.00 to $68.00
2016-05-03 Boost Price Target Benchmark Co. Buy $56.00 to $65.00
2016-04-25 Boost Price Target Wedbush Outperform $60.00 to $63.00
2016-04-19 Reiterated Rating Pivotal Research Buy $56.00 to $63.00
2016-04-17 Reiterated Rating Barclays Equal Weight $51.00
2016-04-17 Reiterated Rating Barclays PLC Equal Weight $51.00
2016-04-12 Boost Price Target Moffett Nathanson $56.00
2016-04-08 Boost Price Target Nomura Buy $60.00 to $66.00
2016-04-08 Reiterated Rating FBR & Co. Outperform
2016-04-08 Boost Price Target Nomura Holdings Inc. Buy $60.00 to $66.00
2016-04-07 Initiated Coverage RBC Capital Outperform to Outperform $68.00
2016-04-01 Reiterated Rating Bank of America Buy $65.00
2016-03-31 Reiterated Rating Barrington Research Outperform $61.00 to $65.00
2016-03-28 Lower Price Target RBC Capital Top Pick $69.00 to $68.00
2016-03-24 Reiterated Rating Argus Buy
2016-03-16 Reiterated Rating Deutsche Bank Buy $60.00 to $64.00
2016-03-16 Reiterated Rating FBR & Co. Buy
2016-03-16 Reiterated Rating Needham & Company LLC Buy $52.00 to $65.00
2016-03-16 Reiterated Rating Piper Jaffray Buy
2016-03-16 Boost Price Target Wedbush Outperform $57.00 to $60.00
2016-03-16 Boost Price Target Stifel Nicolaus Buy $54.00 to $60.00
2016-03-16 Reiterated Rating Deutsche Bank AG Buy $60.00 to $64.00
2016-03-14 Boost Price Target Jefferies Group Buy $56.00 to $60.00
2016-03-09 Upgrade Wells Fargo Market Perform to Outperform $60.00 to $58.00
2016-02-22 Lower Price Target Credit Suisse Outperform $75.00 to $70.00
2016-02-21 Reiterated Rating Deutsche Bank Buy
2016-02-18 Lower Price Target Cowen and Company Outperform $61.00 to $59.00
2016-02-14 Reiterated Rating FBR & Co. Buy $66.00
2016-02-12 Reiterated Rating BMO Capital Markets Outperform $58.00
2016-02-12 Reiterated Rating Nomura Buy $60.00
2016-02-12 Lower Price Target Wedbush Outperform $63.00 to $57.00
2016-02-05 Initiated Coverage Telsey Advisory Group Outperform to Outperform $63.00
2016-02-05 Reiterated Rating Sanford C. Bernstein Market Perform
2016-01-31 Reiterated Rating FBR & Co. Outperform $66.00
2016-01-14 Reiterated Rating Jefferies Group Buy
2016-01-08 Lower Price Target Stifel Nicolaus Buy $66.00 to $54.00
2015-12-16 Reiterated Rating JPMorgan Chase & Co. Overweight
2015-11-18 Reiterated Rating FBR & Co. Buy
2015-11-13 Reiterated Rating Argus Buy $62.00 to $50.36
2015-11-05 Reiterated Rating BMO Capital Markets Outperform $58.00
2015-11-05 Reiterated Rating FBR & Co. Outperform $66.00
2015-11-04 Reiterated Rating Nomura Buy $55.00 to $60.00
2015-11-04 Lower Price Target Topeka Capital Markets Buy $65.00 to $64.00
2015-10-28 Lower Price Target Sanford C. Bernstein Market-Perform $49.00
2015-10-26 Lower Price Target Wedbush Outperform $70.00 to $63.00
2015-10-26 Reiterated Rating Cowen and Company Outperform $63.00 to $61.00
2015-10-20 Lower Price Target Barclays Equal Weight $52.00 to $51.00
2015-10-20 Initiated Coverage Pivotal Research Buy
2015-10-13 Lower Price Target RBC Capital Top Pick $67.00 to $64.00
2015-10-09 Initiated Coverage Pacific Crest Sector Weight
2015-10-06 Lower Price Target Topeka Capital Markets Buy $67.00 to $65.00
2015-09-29 Lower Price Target Nomura Buy $66.00 to $55.00
2015-09-29 Lower Price Target Needham & Company LLC Buy $83.00 to $52.00
2015-09-26 Reiterated Rating Macquarie Buy $55.00
2015-09-18 Reiterated Rating Piper Jaffray Buy $75.00 to $60.00
2015-09-10 Upgrade Deutsche Bank Hold to Buy $67.00 to $60.00
2015-08-31 Initiated Coverage Benchmark Co. Positive to Buy $62.00 to $56.00
2015-08-25 Downgrade Wells Fargo & Co. Hold
2015-08-25 Downgrade Wells Fargo Hold
2015-08-24 Lower Price Target Credit Suisse Outperform $85.00 to $75.00
2015-08-20 Lower Price Target Sanford C. Bernstein Market Perform $61.00 to $52.00
2015-08-18 Reiterated Rating Pivotal Research Buy
2015-08-18 Downgrade Wells Fargo & Co. Outperform to Market Perform $66.50 to $54.00
2015-08-18 Downgrade Wells Fargo Outperform to Market Perform $66.50 to $54.00
2015-08-16 Reiterated Rating Barclays Hold
2015-08-14 Lower Price Target Barclays Equal Weight $55.00 to $52.00
2015-08-10 Lower Price Target Barrington Research Outperform $70.00 to $60.00
2015-08-06 Reiterated Rating Cowen and Company Buy $66.00
2015-08-06 Upgrade Pivotal Research Hold to Buy $58.00
2015-07-20 Downgrade Pivotal Research Buy to Hold $70.00 to $58.00
2015-07-20 Reiterated Rating Topeka Capital Markets Buy $68.00 to $67.00
2015-07-18 Boost Price Target Barclays Equal Weight $53.00 to $55.00
2015-07-10 Reiterated Rating Needham & Company LLC Buy
2015-07-10 Reiterated Rating Northland Securities Buy $83.00
2015-07-07 Reiterated Rating Nomura Buy $68.00 to $66.00
2015-06-06 Reiterated Rating Barclays Equal Weight $55.00 to $53.00
2015-06-04 Set Price Target Jefferies Group Buy $68.00
2015-06-03 Initiated Coverage Credit Suisse Outperform $85.00
2015-05-10 Reiterated Rating BMO Capital Markets Outperform $64.00 to $68.00
2015-05-08 Boost Price Target Jefferies Group Buy $65.00 to $68.00
2015-05-08 Boost Price Target Topeka Capital Markets Buy $67.00 to $68.00
2015-03-20 Reiterated Rating Citigroup Inc. Buy $60.00 to $72.00
2015-03-19 Reiterated Rating Deutsche Bank Hold $67.00
2015-03-05 Initiated Coverage Deutsche Bank Hold $67.00
2015-02-18 Set Price Target Morgan Stanley Buy $65.00
2015-02-18 Initiated Coverage Rosenblatt Securities Neutral $60.00
2015-02-17 Reiterated Rating S&P Equity Research Strong-Buy
2015-02-13 Boost Price Target JPMorgan Chase & Co. Overweight $65.00 to $73.00
2015-02-13 Reiterated Rating Cowen and Company Buy $65.00 to $67.00
2015-01-22 Initiated Coverage Societe Generale Hold
2015-01-16 Upgrade Stifel Nicolaus Positive
2015-01-15 Upgrade Stifel Nicolaus Hold to Buy $65.00
2015-01-12 Upgrade Cowen and Company Market Perform to Outperform $53.00
2014-12-30 Reiterated Rating Piper Jaffray Top Pick
2014-11-18 Lower Price Target Barclays Equal Weight $59.00 to $55.00
2014-11-18 Downgrade Atlantic Securities Overweight to Neutral $58.00
2014-11-06 Reiterated Pivotal Research Group Buy $72 to $69
2014-11-06 Reiterated Rating JPMorgan Chase & Co. Overweight $68.00 to $65.00
2014-11-06 Lower Price Target Pivotal Research Buy $72.00 to $69.00
2014-11-03 Lower Price Target Topeka Capital Markets Buy $69.00 to $65.00
2014-10-29 Lower Price Target RBC Capital Top Pick $72.00 to $69.00
2014-10-15 Upgrade Citigroup Inc. Neutral to Buy $6.00 to $60.00
2014-10-13 Reiterated Rating Morgan Stanley Overweight
2014-10-13 Reiterated Rating Jefferies Group Buy $72.00 to $65.00
2014-10-07 Lower Price Target FBR & Co. Outperform $74.00 to $71.00
2014-10-03 Reiterated Rating JPMorgan Chase & Co. Overweight $70.00 to $68.00
2014-10-02 Reiterated Rating Bank of America Buy $80.00 to $70.00
2014-10-02 Reiterated Rating ING Group Buy $80.00 to $70.00
2014-08-21 Lower Price Target Barclays Equal Weight $68.00 to $65.00
2014-08-18 Reiterated Rating Evercore ISI Conviction-Buy
2014-08-08 Boost Price Target Pivotal Research $67.00 to $70.00
2014-08-08 Lower Price Target Evercore ISI $73.00 to $65.00
2014-08-08 Reiterated Rating Nomura Buy $78.00 to $74.00
2014-08-08 Boost Price Target RBC Capital Top Pick $70.00 to $72.00
2014-07-30 Initiated Coverage Morgan Stanley
2014-07-23 Reiterated Rating FBR & Co. Outperform
2014-07-15 Reiterated Rating Topeka Capital Markets Buy $70.00
2014-07-09 Initiated Coverage Barclays Equal Weight $68.00
2014-06-25 Initiated Coverage Jefferies Group Buy $72.00 to $58.84
2014-05-09 Lower Price Target Topeka Capital Markets Buy $71.00 to $70.00
2014-05-09 Lower Price Target Barrington Research $85.00 to $79.00
2014-05-09 Boost Price Target RBC Capital $69.00 to $70.00
2014-05-09 Lower Price Target Evercore ISI $70.00 to $69.00
2014-04-09 Initiated Coverage JPMorgan Chase & Co. Overweight
2014-03-17 Boost Price Target Needham & Company LLC Buy $70.00 to $83.00
2014-02-20 Boost Price Target Sanford C. Bernstein $66.00 to $68.00
2014-02-20 Boost Price Target Benchmark Co. $69.00 to $73.00
2014-02-14 Boost Price Target BMO Capital Markets Outperform $70.00
2014-02-13 Reiterated UBS Buy $67 to $73
2014-02-13 Boost Price Target RBC Capital Top Pick $68.00 to $69.00
2014-02-13 Reiterated Rating Morgan Stanley Overweight $70.00 to $73.00
2014-02-13 Boost Price Target Guggenheim $70.00
2014-02-13 Boost Price Target FBR & Co. Outperform $67.00 to $74.00
2014-02-05 Reiterated Rating Guggenheim Positive
2014-01-24 Initiated Coverage Topeka Capital Markets Buy
2014-01-15 Initiated Coverage Nomura Buy $75.00
2013-12-27 Reiterated Rating Macquarie Outperform $66.00
2013-11-14 Boost Price Target Barrington Research Outperform $58.00 to $70.00
2013-11-11 Boost Price Target Benchmark Co. Buy $63.00 to $69.00
2013-11-07 Boost Price Target Pivotal Research Buy $62.00 to $64.00
2013-11-07 Boost Price Target Needham & Company LLC Buy $65.00 to $70.00
2013-11-07 Boost Price Target RBC Capital Top Pick $67.00 to $69.00
2013-10-29 Initiated Coverage FBR & Co. Outperform $67.00
2013-10-25 Boost Price Target Cowen and Company Market Perform $57.00 to $58.00
2013-10-24 Initiated Coverage Guggenheim Buy
2013-10-18 Boost Price Target B. Riley Buy $68.00
2013-10-14 Initiated Coverage Hanson Neutral
2013-09-25 Boost Price Target Morgan Stanley Overweight $63.00
2013-08-02 Reiterated Argus Buy $54 to $70
2013-08-01 Reiterated Needham Buy $43 to $65
2013-06-12 Reiterated B. Riley & Co. Buy $55 to $54
2013-03-14 Reiterated UBS Buy $45 to $54
2016-07-11 Downgrade Wells Fargo & Co. Buy
2016-07-07 Initiated Coverage Brean Capital Buy $65.00
2016-07-02 Reiterated Rating Needham & Company LLC Buy $65.00
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-29 Reiterated Rating Morgan Stanley Overweight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
REDSTONE SUMNER M Executive Chairman 23.78%  (9243800) CBS / CBSO / VIAB /
MOONVES LESLIE President & CEO 1.92%  (745531) CBS / CBSO / KBH /
Ianniello Joseph R Chief Operating Officer 1.02%  (396057) CBS / CBSO /
REDSTONE SHARI Vice Chair 0.25%  (97745) CBS / VIAB /
Jones Richard M SVP, General Tax Counsel 0.25%  (95875) CBS /
ANDELMAN DAVID R 0.18%  (70280) CBS /
GIFFORD CHARLES K 0.18%  (69020) BAC / CBS / NU /
CALIFANO JOSEPH A 0.17%  (66836) CBS /
Kopelson Arnold 0.17%  (66046) CBS /
COHEN WILLIAM S 0.17%  (64824) CBS /
GORDON BRUCE S 0.16%  (62086) ADT / CBS / NOC /
COUNTRYMAN GARY L 0.15%  (58795) CBS /
Goldberg Leonard 0.15%  (57792) CBS /
Morris Doug 0.15%  (56871) CBS /
Schwartz Gil D Sr.EVP, Chief Commun. Officer 0.14%  (55892) CBS /
SALERNO FREDERIC V 0.12%  (48098) AKAM / BSC / CBS / FCB / ICE / NFG / VIAB /
GRIEGO LINDA M 0.11%  (41371) ACM / CBS /
Straka Angeline C SVP, Deputy GC and Secretary 0.10%  (40566) CBS /
Ambrosio Anthony G Sr.EVP Chief Admin & HR Ofcr 0.07%  (26140) CBS / CBSO /
Liding Lawrence SVP, Controller and CAO 0.07%  (25644) CBS /
Tu Lawrence Sr.EVP, Chief Legal Officer 0.05%  (19490) CBS / CBSO /
Anschell Jonathan EVP, Deputy GC and Secretary 0.03%  (12748) CBS /
Minow Martha L. 0.01%  (2166) CBS /

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