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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.

[via press release from CBS]

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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[02/16/18 - 11:49 PM]
Development Update: Friday, February 16
Updates include: Madeline Stowe to star in FOX's "Mixtape"; Aunjanue Ellis set for lead role in "Chiefs" at CBS; and Lynn Collins among those bound for ABC's "Safe Harbor."

[02/16/18 - 05:54 PM]
"Descendants 3" Was Announced to Disney Channel Viewers Tonight in a Special Message from "Mal"
"Descendants 3" will begin production there in summer for a debut next year on Disney Channel.

[02/16/18 - 01:48 PM]
NBC Olympics' PyeongChang Coverage Delivered Most Dominant Winter Games Thursday Night Since Sarah Hughes Won Gold & Bode Miller Took Silver in 2002
NBC further spins the numbers for Thursday, February 15.

[02/16/18 - 12:00 PM]
Video: TBS Reveals First Trailer for "The Last O.G."
The series centers on Tray (Tracy Morgan), an ex-con shocked to see just how much the world has changed when he is released from prison for on good behavior after a 15-year stint.

[02/16/18 - 11:56 AM]
Travel Channel Triggers Mid-Season Pick Up of "Expedition Unknown" with Josh Gates
Production on the new season is slated to begin this spring.

[02/16/18 - 11:47 AM]
Check Out the New "iZombie" Season 4 Key Art!
The new season kicks off Monday, February 26 at 9:00/8:00c on The CW.

[02/16/18 - 11:00 AM]
Emmy(R) Award Winner Alfre Woodard to Guest-Star as Cookie's Mother on "Empire"
Renee, Cookie's mother, comes back into her life with a turbulent reunion.

[02/16/18 - 10:30 AM]
VH1's Unstoppable Streak Continues with a New Season of "Love & Hip Hop: Atlanta" and the Return of Erica Mena Monday, March 19 at 8PM ET/PT
After several failed relationships Erica is ready to leave her past behind her in search of a fresh start in Atlanta.

[02/16/18 - 10:30 AM]
Emmy Award-Winning "So You Think You Can Dance" Returns for 15th Season, Premiering Summer 2018 on FOX
Emmy Award winner Nigel Lythgoe, award-winning choreographer Mary Murphy and award-winning actress, singer and dancer Vanessa Hudgens will return as resident judges on the series, hosted by Emmy Award nominee Cat Deeley.

[02/16/18 - 09:02 AM]
Thursday's Broadcast Ratings: NBC Rides Winter Olympics to Top Spot
The Peacock leads the night in both total viewers and adults 18-49.

[02/16/18 - 09:00 AM]
CBS All Access Announces Additional Casting for "Strange Angel"
Production of the 1930s-set series began earlier this month on location across Los Angeles.

[02/16/18 - 08:17 AM]
Science Channel's All-New Series "Secrets of the Lost" Kicks Off with Two Episodes Offering Incredible Insight Into the Great Pyramid of Giza with Help of Newly Uncovered Ancient Text
The new, six-episode series premieres Sunday, February 25 at 10:00/9:00c on Science Channel.

[02/16/18 - 08:06 AM]
Emmy(R) Award-Winning "Rupaul's Drag Race" Returns for a Milestone 10th Season on Thursday, March 22 Followed by an All-New Season of "Untucked"
Each supersized, 90-minute episode of "RuPaul's Drag Race" will give fans more fashion, lip-syncs and drag than ever before.

[02/16/18 - 08:03 AM]
Welcome to the Neighborhood! Netflix Reveals First Look at "Santa Clarita Diet" Season 2's Newest Residents
Joel McHale, Maggie Lawson, Gerald McRaney and Zachary Knighton are all on tap for the new season, due this spring.

[02/16/18 - 05:31 AM]
90th Oscars(R) First Slate of Presenters Announced
The presenters, including past Oscar winners and nominees, are Mahershala Ali, Chadwick Boseman, Viola Davis, Laura Dern, Jennifer Garner, Tiffany Haddish, Greta Gerwig, Tom Holland, Kumail Nanjiani, Margot Robbie, Emma Stone and Daniela Vega.