CBS Corporation

The CBS Corporation is a New York-based Broadcasting Corporation founded in the early 20th century. The company rose from the ashes of 16 fledgling radio stations under the banner- United Independent Broadcasters Inc. the changeover took place in the year 1928 under the able stewardship of its iconic leader William S. Paley. From then henceforth, Paley injected a lot of money and skill towards the revival and spurring of the company’s radio stations. Among the methods, he implemented towards this course was the introduction of new programs which helped the company endear itself to their listeners. Among the notable programs which saw to it that Paley’s campaign succeeded include the Howard Barlow Orchestra. This was among the first musical entertainment programs which had ever been developed for the listeners. Strategically, the company relocated to one of the most well-established neighborhoods which was often frequented by advertisers, 485 Madison Avenue in the year 1929. In order to silence his landlord who was skeptical about his company’s success, Paley signed a deal of $1.4 million. This was after the previous success in the consolidation of the company’s finances which was made possible by the company’s strong policies. As a result, investors were willing to fund it towards its expansion. This steps ushered the company to its profitability and expansions which it took in the following years (Schoenbrun, 56).

The company after consideration dropped its former full name and opted for the initials CBS in 1974. In the year 1995, the company was acquired by the Westinghouse Electric Corporation who later renamed it CBS Broadcasting, Inc. which is the current name for the company in the year 1997. The company was also to experience radical changes in its leadership in 2000 when it was taken over by Viacom. Currently, the company is controlled by Sumner Redstone through its subsidiary the National amusements who are the current owners of Viacom. The company has over 240 television stations owned and operates under its name across the US.

Currently, the company has its headquarters at 524 West 57th Street in New York City. This is where it has been located since the year 1965. The company has many branches across different parts of the US and additional branches in other parts of the world. For instance, it has a broadcasting studio in Manhattans known as Ed Sullivan Theater or the CBS-TV studio 50. The company had a policy whereby each studio was assigned specific program and thus their availability in different localities and the many branches. The other branch apart from the one highlighted above is CBS-TV Studio 58 which is located at 58th street and the fifth Avenue. Apart from that the company also had a studio at 254 West 54th Street in New York City. This studio was assigned disco and theater production duties. Essentially it was referred to as the disco-theater Studio 54. The company also went ahead to acquire Riverhead cable TV channel 10 which was licensed in the Long island. This effectively led to the development of a duopoly with the WCBS-TV.

Apart from the highlighted studios, the company has branches in Australia under the name CBS interactive Australia, in Singapore where it operates under the name CBS Interactive Pte. Ltd. The company has also established a branch in China where it offers its services under the name CBS Interactive China. The UK has also been covered by the company under its banner the CBS interactive UK. These branches are in addition to the branches located in different states of United States. For instance, it has branches in eight states of the US. The states are; Florida, Massachusetts, Kentucky, California, New Jersey, Oregon and Tennessee. This has enabled the company to have a full presence in virtually all the parts of the US and the world by extension

CBS Corporation was able to make $3.85 Billion in revenue which is a 10% rise from the previous year’s revenues. The year also saw a rise in the operating income by 14%. On the other hand, the same financial year saw its competitor the ABC’s revenue rise by 10% to $ 1.6 billion. The CBS company’s main competitor CNN, however, had the most successful year which raked in a revenue of $ 7.8billion which almost doubles what the CBS was able to earn. It can be red from the revenues however that CBS is second runners up in this industry in spite of the fact that it is trailing the industry’s leaders by far.

Leslie Roy Moonves is the company’s current chief executive officer. He was appointed to the position in 2003 and made chairman in February 2016. Leslie had been serving in different positions in the company for many years, for instance, he once had a stint in Viacom which is the current parent company of CBS. He specifically served at the prestigious and influential position of co-president of Viacom. Since his appointment into the position, the company has seen a drastic improvement. The rise in the ranking of the company from the last position to the first is a direct attribute to his revolutionary measure towards ensuring that the company has stamped its authority in the industry. Among the notable changes attributed to his early years in the office include the ending of the long-running TV franchise the star trek. He engineered the introduction of great programs like CSI franchise and the survivor which brought about the turnaround in the company’s fortunes. Financially and strategically, Leslie was able to oversee the striking of a deal that brought together The WB and the CBS’s UPN. This led to the formation of the CW network. This initiative effectively made Leslie the best CEO when compared to those who came before him (Kolodzy, 65).

CBS has been able to bring about many subsidiaries under its banner. They include; CBS News, CBS Radio, Showtime, CBS Sports, The CW, CBS Interactive, Out front Media, CBS Television Stations, CBS Television Studios, CBS Films, CBS Television Distribution, Simon & Schuster, CBS MaxPreps Inc. , CBS Home, CBS Paramount, CBS Radio News, Big Ticket Entertainment, Republic Pictures, Terrytoons, CBS Studios Inc., Eventful, CBS Records, CBS Altitude, Westinghouse, Transportation Displays Inc., Blackrock Insurance Corp, CSTV Networks Inc. KWP Studios Inc., CBS Consumer Products Inc., Detroit Television Station WKBD Inc., CBS Interactive Pte Ltd., Magic Molehill Productions, Inc. CBS Outernet Inc., CBS CSI International B.V. CBS Canada Holdings (CBS Corporation).

CBS has embraced diversity as one of its cornerstone values in terms of staffing and news coverage. This has been effected through the fielding of programs and the development of talent in a bid to reach out to professional suppliers and vendors. The major goal being to create an impact on the industry concerning the essence and importance of diversity. This information defers from the one presented to the shareholders in that the company has concentrated on informing the shareholders how the management is committed towards the production of excellent results. From the company’s annual report I can learn that the company has had a rise in the expenditure which is eating into its profits. The rise of 14% in operating income against a 10% rise in revenue means that the company has to cut overhead costs in order to maximize profitability. CBS is banking on the provision of good content as a strategy for its future developments as far as the technological developments and use of broadband are concerned.

It was quite evident from different sources that CBS is a media company which has been under the influences of politicians and the authorities. There are indications that the company plotted to cover-up the government’s failures in the Iraq war in 2005. Apart, from that, we see a company which has been involved in a lot of legal tussles with different bodies. Moreover, it was accused of orchestrating a cover-up during elections. This paints a picture of a company with a lot of underhand deals (Goldberg, 59). The actions which the company is said to have taken as far as Roberta Baskin’s story concerning the abuses in Asia also speaks a lot of the company’s leadership. One that can compromise on its stand with when given incentives by interested parties (Swanson).

 

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