TBI Weekly: CBS Corporation’s year of change

Written by Kaltrina Bylykbashi
02 August 2018 @ 17:17

Who would have thought during this year’s Upfronts that as CBS chief Leslie Moonves presented the company’s upcoming slate to a standing ovation, he would be the biggest cause for controversy in the company today?

The media giant has, after all, been a remarkably steady company partly due to the chairman and CEO supporting the company for near 30 years. It has had stable earnings year-after-year, while remaining one of the most-watched US networks despite increased competition.

But, with increased pressure to consolidate and keep up with major mergers, sexual harassment claims aimed at its popular leader, and an entire company culture coming into question in the context of the #MeToo movement, it’s safe to say that we’re seeing markers of change for this company too.

Here are some key markers we have seen so far:

At the start of the year, CBS and Viacom began exploring a future merger
CBS’ dissatisfaction with the move was shown as it made a below-market bid for Viacom
CBS takes action against its controlling stakeholders National Amusements and attempt to prevent the move going forward
CBS shareholders launch a class action lawsuit against NA on the move
Ahead of its already postponed earnings report, Leslie Moonves is accused of sexual harassment in a report by The New Yorker
CBS Board of Directors meet to take action on Moonves’ accusations
CBS Board of Directors brings in an independent committee and legal firms to investigate the accusation against Moonves and the wider company culture

The company has also been successful in many ways this year, from launching popular streaming titles such as Star Trek: Discovery, to rolling out its popular CBS All Access streaming service internationally. So while there may be great change to come, the person or team that ultimately controls the company will have a valuable asset in their hands.

Also in the news…

Viasat World has added Epic Drama to A1 Bulgaria, where subscribers will have access to titles such as Beowulf: Return to the Shieldlands, The Tudors and Bletchley Circle
Sundance Now, AMC Network’s SVOD service, has struck a pre-sale deal with DRG for The Cry
BES Animation and Network Seven, have paired to give hit children’s show Kitty is Not a Cat a further broadcast window on the Australian free-to-air digital channel 7flix
Sony Pictures Television, in partnership with the United Nations Foundation, has announced Vinamra Pancharia, from India, as the global winner of the Picture This Festival for the Planet