Les Moonves Says CBS “Stronger Than It's Ever Been”: UBS Confab

When CBS chief Les Moonves appears at an investor event like this week’s UBS Annual Global Media and Communications Conference, they should just get him an orchestra and a spotlight so he can sing “Everything’s Coming Up Roses.” “Everybody calls me a cheerleader but network television’s doing better than it’s done in many years,” he told analysts today. He says that CBS’ prices for ads in the scatter market are up “in the mid-teens” over the upfront, although “our competitors are doing not as well.” Heading into the holiday season “demand is picking up again” and few are cancelling upfront orders for early 2012. “When you look at where our ratings are, you don’t want to cancel a CBS show because (later on) you’ll pay more.” To underscore his confidence in CBS’ finances, he threw some red meat to investors: “Could we raise the dividend (next year)? That’s a possibility.”

He’s encouraged by the additional dollars flowing to the network from retransmission consent deals with pay TV distributors, and reverse compensation payments to CBS from its affiliates. If a local station balked at shelling out cash to CBS — which used to pay stations to carry its shows — then Moonves would consider yanking the affiliation agreement. But he says that’s unlikely because CBS’ strong primetime line up “is making them a lot of money” by delivering large audiences to local newscasts. Meanwhile, he’d like the FCC not to require that network programming remain on pay TV when distributors balk at retransmission consent payments. “This is America. We’ll make a deal with these guys or won’t make a deal.” (more…)

This article was printed from https://deadline.com/2011/12/moonves-says-cbs-is-stronger-than-its-ever-been-ubs-confab-201516/