Don’t Call CBS The “Old Fogey Network” Any More, Les Moonves Says: Video
The jokes about CBS‘ appeal to gray-haired viewers “are over” the company chief tells CNBC’s David Faber this morning now that the network is poised to end this season No. 1 among 18- to 49-year-olds for the first time in 23 years. Les Moonves enters the upfront ad sales season feeling “pretty cocky” due to CBS’ strong ratings, and price increases in the scatter market. Meanwhile, he says that with stock repurchases investors can expect a “great chunk” of the cash the company will collect soon from its efforts to restructure and sell its billboard business.