All Eyes on CBS.(CBS Broadcasting Inc.)

Broadcasting & Cable, February, 2009 by Grossman, Ben

By Ben Grossman

When CBS took its turn in the earnings barrel last week, the announcement went as well as it could have for the most part, considering the company was reporting a major drop in profit and the slashing of its once-prominent dividend.

And many industry insiders gave credit to company chief Les Moonves for his relatively optimistic outlook in front of analysts.

Moonves has always had a knack for handling the press. The coverage of his company's under-siege financials was positive enough that I have to believe had Alex Rodriguez hired Moonves as his PR adviser, none of us would be laughing about the most famous cousin since Joe Pesci's Vinny Gambini.

But behind all of that talk is a portfolio that still gets about...

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