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[02/24/10 - 11:52 AM] CBS Corporation Announces New, Five-Year Employment Agreement with President and Chief Executive Officer Leslie Moonves "I have the privilege of working with the greatest team of people in this or any other business," said Moonves. |
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| [via press release from CBS] |
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CBS CORPORATION ANNOUNCES NEW, FIVE-YEAR EMPLOYMENT AGREEMENT WITH PRESIDENT AND CHIEF EXECUTIVE OFFICER LESLIE MOONVES
New Agreement Supersedes Prior Contract and Extends Employment
through February 2015
CBS Corporation (NYSE: CBS and CBS.A) announced today a new employment agreement with President and Chief Executive Officer Leslie Moonves. The agreement supersedes the prior contract, which was to conclude in 2011, and extends his employment with the CBS Corporation through February 22, 2015.
"This is, above all, great news for every shareholder of CBS," said Sumner Redstone, Executive Chairman and Founder, CBS Corporation. "Leslie is a superb executive who has led CBS to a position of unparalleled leadership in the industry. This agreement not only secures the future of the Company for many years to come, it also further aligns and strengthens the interests of the chief executive with those of our shareholders. I look forward to working with Leslie as we capitalize on all of the opportunities that lie ahead."
"I have the privilege of working with the greatest team of people in this or any other business," said Moonves. "I am very gratified that my relationship with the Company will continue as we build on the strong foundation we have laid for ongoing growth and success."
Under the terms of the agreement, Moonves' salary remains at its current level. As before, he will continue to be eligible for an annual performance-based bonus and will receive significant equity-based compensation that ties the value of the agreement to the performance of the Company's stock. The Company has also provided incentives for Moonves to continue his relationship with the Company at the end of the employment term.
For more information regarding the agreement, please see the Company's Annual Report on Form 10-K to be filed with the Securities and Exchange Commission, which attaches a copy of the employment agreement.
About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW � a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Television Studios, CBS Studios International and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment) and motion pictures (CBS Films). For more information, log on to http://www.cbscorporation.com/.
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[10/24/25 - 02:30 PM] Video: First Look at Upcoming New Drama "Memory of a Killer" Starring Patrick Dempsey and Michael Imperioli - Premiering This January on FOX Dempsey stars as a hitman, Angelo Doyle, leading a dangerous double life while hiding an even deadlier personal secret - he has developed early onset Alzheimer's.
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[10/24/25 - 02:02 PM] "20/20" Is Friday's Most-Watched Newsmagazine Across the Board In addition, "20/20" posted its best Adults 25-54 in more than four months.
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[10/24/25 - 02:01 PM] ABC News' "Nightline" Ranks No. 1 Across the Board, Leading NBC in All Key Demos for the 4th Straight Week "Nightline" grew year to year across the board: Total Viewers, Adults 25-54, and Adults 18-49.
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[10/24/25 - 01:05 PM] "Dancing with the Stars" Makes Television History - Rising for Fifth Straight Week The October 21 episode scored 6.63 million Total Viewers and a 1.38 rating among Adults 18-49, hitting new season highs in both demographics.
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[10/24/25 - 08:01 AM] Netflix Announces "Hollywood Arts," A Brand-New Spinoff of Hit Live-Action, "Victorious," with Daniella Monet Returning as Star and Executive Producer The series is set to debut on Netflix in 2026, followed by releases on Nickelodeon and Paramount+.
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[10/24/25 - 07:14 AM] FOX Sports Readies for Major League Baseball's 121st World Series Presented by Capital One Action leads off Friday, October 24, between the National League and current reigning World champion Los Angeles Dodgers and American League champion Toronto Blue Jays from Rogers Centre in Toronto, Canada, on FOX, FOX Deportes, the FOX Sports App and FOX One.
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[10/24/25 - 07:01 AM] Video: "Love Is Blind" Season 9: The Reunion - Official Trailer - Netflix Denver singles shake up their search for "the one" and step into the pods, braving twists, turns and love triangles to find their soulmate sight unseen.
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[10/24/25 - 07:01 AM] Experience the Family, the Fun, and the Fantastic! Marvel Studios' "The Fantastic Four: First Steps" Lands Exclusively on Disney+ November 5 Continuing the celebration of Marvel's First Family, the announcement was made live from SpaceCon 2025 in San Antonio, where The Fantastic Four: First Steps Immersive Pop-Up Experience invites attendees to step inside the iconic Baxter Building.
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[10/24/25 - 06:00 AM] The CW Network and Xfinity Celebrate 11 Years of the NASCAR Xfinity Series by Presenting the Third Stage of the Championship Race Commercial-Free Taking place in Phoenix, Arizona, on Saturday, November 1, the commercial-free stage presented by Xfinity was created to thank the loyal race fans who have supported the NASCAR Xfinity Series for more than a decade - helping the series grow through their unwavering enthusiasm, increased viewership, and continued trackside attendance.
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[10/23/25 - 05:01 PM] Video: "As You Stood By" - Official Trailer - Netflix When two women plot to end an abusive marriage through murder, an unexpected visitor arrives - threatening to shatter everything they've carefully planned.
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[10/23/25 - 02:33 PM] Largest Audience for "NBA Tip-Off" Doubleheader Since 2010 as NBA Returned to NBC and Debuted on Peacock Tuesday night's audience across NBC and Peacock peaked at 7.1 million viewers from 10:45-11 p.m. ET as Shai Gilgeous-Alexander led the defending champion Oklahoma City Thunder to a one-point win over the Houston Rockets in double overtime.
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[10/23/25 - 02:28 PM] The 305 Just Got Hotter: "Love & Hip Hop: Miami" Moves to BET Season 7 Premieres Tuesday, November 4 at 8 PM ET/PT The upcoming seventh season dives deeper than ever into Miami's thriving entertainment scene, following a cast of stars who are rebuilding, rebranding, and redefining success in real time.
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[10/23/25 - 01:30 PM] Critically Acclaimed Noir Thriller, "Dark Winds," to Return to AMC and AMC+ Sunday, February 15 The series' gripping fourth season focuses on the search for a missing Navajo girl, which takes Leaphorn, Chee and Manuelito from the safety of Navajo Nation to the gritty terrain of 1970s Los Angeles in a race against the clock to save her from an obsessive killer with ties to organized crime.
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[10/23/25 - 12:01 PM] Video: BET+ Releases Trailer for Horror Film "A Demon's Revenge" In the film, following the bloodshed in Belize, Peaches, played by Jhoné Lucas, delves deeper into Caribbean folklore and the terrifying truth that lurks beneath.
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[10/23/25 - 12:00 PM] FOX Entertainment Acquires Equity Stake in Chain, Forging Strategic Partnership with Experiential Food Phenomenon Co-Founded by B.J. Novak Included in the investment is a first look development deal through Chain Media.
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