Les Moonves to be the boss of CBS through 2017!
Word on the street according to the Hollywood reporter CBS head honcho's contract with CBS was set to expire in 2015. But they have added a couple more years to it. He'll be sticking around through 2017. Here is an excerpt from that piece:
"After taking the CBS network from last to first place in the ratings in his early tenure at the company, Moonves was promoted to president and CEO of CBS Television in 1998 and became its chairman in 2003. He was named co-president and co-COO of Viacom and chairman of CBS in 2004.
In 2006, when Viacom split its businesses into two publicly traded companies, he became president and CEO of the new CBS Corp.
The company Monday cited his focus on developing new revenue streams, such as retransmission-consent fees and licensing fees from digital streaming services including Netflix and Amazon.com. The company also highlighted that under his leadership, CBS Corp. has been the best-performing media stock for the past three years."
Here is the current CBS Corp stock price as of 10/16:
34.07 +0.04 (0.12%)
Oct 16 4:00pm ET
34.07 +0.00 (0.00%) After Hours
Avg Vol: 7,763,000
Mkt Cap: 21.80B