Speaking at the McGraw-Hill Media summit in New York, CBS Corporation CEO Les Moonves said he has no plans to sell anymore of the company’s radio or TV stations, at least not until prices go up. He is, however, on the prowl for acquisitions in content and new media.
With the US economy rather soft, Moonves is enjoying the revenue help that CBS is getting from a prolonged primary election cycle. “We want this to be as long and as dirty as humanly possible,” he said, adding that the extra political revenues coming to CBS are more than counteracting any general downturn.
