Last $63.35 USD
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As of 11:25 AM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

cbs corp-class a voting (CBS/A) Key Developments

CBS Dismisses Merger Talks

Les Moonves, Chief Executive Officer, President and Director of CBS Corporation (NYSE:CBS) said on CNBC in February 2015 that CBS was "very happy being alone," and the Chief Executive Officer doubled down on that talk at the Morgan Stanley Technology, Media and Telecom conference. Moonves says his Chief Operating Officer tells him that CBS will be a $100 stock in four years, so buyers or merger partners like Time Warner Inc. (NYSE:TWX) or Viacom, Inc. (NasdaqGS:VIAB) would have to pay "a very high price." CBS faces new negotiations with DIRECTV (NasdaqGS:DTV) and Cablevision Systems Corporation (NYSE:CVC) at the end of 2015.

CBS Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

CBS Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues $3,681 million compared to $3,571 million a year ago. Operating income was $707 million compared to $715 million a year ago. Earnings from continuing operations before income taxes were $603 million compared to $632 million a year ago. Net earnings from continuing operations were $402 million or $0.77 diluted per share compared to $422 million or $0.69 diluted per share a year ago. Net earnings were $413 million or $0.79 diluted per share compared to $470 million or $0.76 diluted per share a year ago. Free cash flow was $880 million compared to $380 million a year ago. Adjusted OIBDA was $778 million compared to $808 million a year ago. Total OIBDA was $778 million compared to $788 million a year ago. Free cash flow came in at $382 million against $199 million a year ago. Adjusted operating income was $707 million compared to $735 million a year ago. For the year, the company reported revenues $13,806 million compared to $14,005 million a year ago. Operating income was $2,896 million compared to $3,025 million a year ago. Earnings from continuing operations before income taxes were $2,164 million compared to $2,665 million a year ago. Net earnings from continuing operations were $1,354 million or $2.41 diluted per share compared to $1,738 million or $2.79 diluted per share a year ago. Net earnings were $2,959 million or $5.27 diluted per share compared to $1,879 million or $3.01 diluted per share a year ago. Net cash flow provided by operating activities was $1,275 million compared to $1,873 million a year ago. Capital expenditures were $206 million compared to $212 million a year ago. Free cash flow was $1,004 million compared to $1,567 million a year ago. Adjusted OIBDA was $3,255 million compared to $3,335 million a year ago. Total OIBDA was $3,177 million compared to $3,315 million a year ago. Adjusted net earnings from continuing operations were $1.66 billion in 2014 compared with $1.75 billion in 2013, principally because of lower adjusted OIBDA. Adjusted net earnings from continuing operations per diluted share were $2.96 in 2014, up 6% from $2.80 in 2013. The increase was driven by lower weighted average shares outstanding from the split-off of Outdoor Americas as well as the Company's ongoing share repurchase program. Adjusted operating income was $2,974 million compared to $3,045 million a year ago.

CBS Denies Vaicom Merger

CBS Corporation (NYSE:CBS) denies the merger with Viacom, Inc. (NasdaqGS:VIAB). Leslie Moonves President and Chief Executive Officer of CBS, states, "We don’t need any partners."

CBS Corporation Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-02-2015 11:00 AM

CBS Corporation Presents at Morgan Stanley 2015 Technology, Media & Telecom Conference, Mar-02-2015 11:00 AM. Venue: The Palace Hotel, 2 New Montgomery Street, San Francisco, CA 94105, United States. Speakers: Leslie Moonves, Chief Executive Officer, President and Director.

Moonves Plans To Buy CBS

Leslie Moonves, Chief Executive Officer of CBS Corporation (NYSE:CBS), is discussing ways to buy out the company's controlling shareholder, National Amusements, Inc., ahead of a potential deal with Viacom Inc. Leslie Moonves has been talking to a few banks and private equity firms about buying CBS, as reported.

 

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