CBS CORPORATION

CHRONOLOGY OF MAJOR EVENTS

 
 
1927  

•United Independent Broadcasters, Incorporated debuts with network of 16 independent radio stations

1928  

•William S. Paley acquires United Independent Broadcasters Incorporated, changes name to Columbia Broadcasting System, Incorporated, and becomes President of the Company.

1930  

•CBS has 400 employees; net profits total $.9 million; net sales total $7.2 million.
 

1931  

•CBS begins regularly scheduled television programming over experimental station W2XAB in New York City.

 •WBBM-AM Chicago acquired.

1932  

•KMOX-AM St. Louis acquired.


1933  

•Columbia News Service -- the first radio network news operation -- is organized by CBS.

1934  

•Communications Act adopted, establishing Federal Communications Commission (FCC) and regulatory structure for broadcast industry.  Equal Time provision adopted. 

1935  

•CBS becomes nation's largest radio network.
 

1936  

KNX-AM Los Angeles, acquired.

CBS Laboratories established in New York City to conduct technological research for CBS and outside clients. 

1937  

•CBS stock first listed on the New York Stock Exchange.

 

1938  

•CBS enters record business -- acquires American Record Corporation and changes name to Columbia Recording Corporation.  Artists associated with the Company include Duke Ellington, Harry James and Fred Astaire.

 

•CBS WORLD NEWS ROUNDUP, the first international radio news broadcast, established with correspondents Edward R. Murrow reporting from Vienna, William L. Shirer from London and other newsmen from Paris, Berlin and Rome -- Paul Manning, John Daly, Bob Trout.
 

1939  

Benny Goodman, Count Basie, The Budapest String Quartet and the  hiladelphia Orchestra sign with CBS Records.
 

1940  

•CBS has 2,000 employees; net profits total $5.0 million; net sales total $36.2 million.
 

•First color television broadcast from CBS transmitter at top of the Chrysler Building and received in CBS Building at 485 Madison Avenue.
 

•FCC rules that a company cannot own more than six FM radio stations.
 

 

1941  

WCBS-TV New York (formerly WCBW) acquired.
 

•CBS begins weekly broadcast of black and white television program service over WCBS-TV.
 

•FCC adopts Chain Broadcasting Rules governing operation of television and radio networks and network affiliate relationships.  FCC authorizes commercial television service and limits the ownership of television stations to three per company nationwide.
 

1942  

WEEI-AM Boston, acquired.
 

1943  

•WCBS-FM New York; WBBM-FM Chicago acquired.
 

•CBS Washington Office established to represent the Company before administrative and executive agencies and the Congress on  matters affecting policy, regulation, legislation and law.
 

1944  

•FCC raises limit of television stations -- any company can own five.
 

 

1945  •CBS enters music-publishing field by establishing the April/Blackwood Music publishing companies to administer and collect royalties on music owned by CBS or artists associated with April/Blackwood.
 

 

1946  •William S. Paley becomes Chairman; Frank Stanton becomes  President, Columbia Broadcasting System Inc.
 

 

•First CBS Records International affiliate established in Mexico.
 

 

•FCC adopts de facto rule that a company may not own more than seven AM radio stations.  FCC makes Chain Broadcasting Rules applicable to television.
 

 

1948  •WCAU-TV Philadelphia as first CBS Television Network affiliate.  Within the year, there are 30 affiliated stations.
 

 

•KNX-FM (now KCBS-FM) Los Angeles and WEEI-FM (now WODS-FM) Boston acquired.
 

 

•CBS presents first full television coverage of presidential election returns.
 

 

•TOAST OF THE TOWN (later THE ED SULLIVAN SHOW) begins a 23-year run on CBS Television Network.
 

 

•THE CBS-TV NEWS WITH DOUGLAS EDWARDS becomes the first regularly scheduled television network news broadcast.
 

 

•CBS introduces 33 1/3 long-playing record, expanding the amount of music per record and reducing the cost of purchasing a recorded  music collection.
 

 

1949  •KCBS-AM and KCBS-FM (now KLLC-FM) San Francisco acquired.
 

 

•ARTHUR GODFREY AND HIS FRIENDS (later THE ARTHUR GODFREY SHOW) debuts on the CBS Television Network.
 

 

•Fairness Doctrine adopted by FCC requiring broadcasters to present opposing views on controversial issues.
 

 

1950  •CBS has 3,000 employees; net profits total $4.1 million; net sales total $99.6 million.
 

 

•George Burns, Gracie Allen, Garry Moore and Jack Benny debut on the CBS Television Network.
 

 

1951  •KNXT-TV (formerly KTSL; now KCBS-TV) Los Angeles acquired.
 

 

•CBS broadcasts first live coast-to-coast television transmission between New York and San Francisco.
 

 

•CBS enters television manufacturing field -- Hytron Radio & Electronics Corporation acquired.
 

 

  •I LOVE LUCY debuts on CBS Television Network.
 

 

1952  •CBS opens Television City, Hollywood -- the industry's first self-contained television production facility.
 

 

1953  •WBBM-TV, Chicago acquired.
 

 

•CBS record production plant in Terre Haute, Indiana opens.  The facility will become the principal distribution center for the Columbia Record Club (later the Columbia Record and Tape Club), CBS's direct-to-home mail marketing organization.
 

 

•FCC consolidates broadcast ownership rules so that no company can own more than seven AM, seven FM and five television stations.
 

 

1954  •CBS Television Network becomes the world's largest advertising medium.
 

 

  •FACE THE NATION debuts on the CBS Television Network.
 

 

•FCC sets television ownership at seven (5 VHF, 2 UHF), resulting in the "7-7-7" rule for AM and FM radio and television stations.
 

 

1955  •Columbia Record Club (later the Columbia Record and Tape Club), direct-to-home mail marketing of audio records established.
 

 

•Columbia House Canada (largest record and tape club in Canada) established.
 

 

1956  •PLAYHOUSE 90 debuts on CBS Television Network.
 

 

•Backed by CBS, "My Fair Lady" premieres on Broadway.  The show runs for a record breaking 2,717 performances.
 

 

1957  •CBS MORNING NEWS debuts on CBS Television Network.
 

 

1958  •KMOX-TV St. Louis and WCAU-TV Philadelphia acquired.
 

 

  •WCAU-AM (now WPHT-AM) and WCAU-FM (now WOGL-FM) Philadelphia acquired.
 

 

•CBS Laboratories (now CBS Technology Center) moves from New York City to Stamford, Connecticut.
 

 

1959  •Amendments to "Equal Time" Provision of Section 315 of the Communications Act adopted, exempting most television and radio news programming from the equal time requirement.
 

 

1960  •CBS has 15,000 employees; net profits total $23.2 million; net sales total $464.6 million.
 

 

•FCC's equal time rule is suspended to permit the broadcast of first presidential debate, between John F. Kennedy and Richard M. Nixon.
 

 

•CBS Record and Tape manufacturing facility in Pitman, New Jersey opens.
 

 

1961  •CBS discontinues involvement in television manufacturing -- Hytron assets sold.
 

 

  •CBS Records International subsidiary established in England.
 

 

  •Bob Dylan signs with CBS Records.
 

 

1962 •KMOX-FM (now KLOU-FM) St. Louis acquired.
 

 

  •Barbra Streisand signs with CBS Records.
 

 

1964  •CBS record and tape manufacturing and distribution facility in Santa Maria, California established.
 

 

  •New York Yankees Inc. acquired.
 

 

•CBS enters the cable television system ownership field -- acquires interest in a cable television system in Vancouver, Canada.
 

 

1965  •CBS corporate headquarters moves from 485 Madison Avenue, New York City to 51 West 52 Street, New York City.
 

 

  •CBS Records International subsidiary established in France.
 

 

•CBS enters musical instruments field -- acquires Fender companies (Fender Sales, Inc.; Fender Electric Instrument Company, Inc.; Fender Acoustic Instrument Company, Inc.;   Fender-Rhodes, Inc.; Terrafen, Inc.; Clef-Tronix, Inc.; Randall Publishing Co., Inc.; and V.C. Squier Company).  Electro-Music Inc. (Leslie speakers).
 

 

1966  •John A. Schneider appointed President of newly created CBS/Broadcast Group.
 

 

•CBS enters toy field -- Creative Playthings, Inc. acquired.
 

 

  •Rogers Drums, Inc. acquired.
 

 

1967  •CBS enters publishing business -- acquires Holt, Rinehart and   Winston, Inc. (text and general book publishers,  Field and Stream magazine; Winston Press, publishers of religious materials).
 

 

•Bailey Films and Film Associates of California (later BFA Educational Media) acquired.
 

 

•Studio Center, a 29-acre television production facility in Los Angeles, California, acquired.
 

 

•CBS Theatrical Films Division (later Cinema Center Films) established.
 

 

1968  •CBS/SONY GROUP INC. (joint venture with Sony Corporation of  Japan) established to market CBS and local Japanese recording product in Japan, Macao and Hong Kong.
 

 

 •W.B. Saunders (medical textbook publishers) acquired.
 

 

•CBS re-establishes Dryden Press imprint (business and economic publishing).
 

 

•CBS creates and makes first use of mini-camera in news gathering. The "minicam" allows for more rapid, on the spot coverage of news events.
 

 

  •60 MINUTES debuts on CBS Television Network.
 

 

  •Discount Records (recorded music retail stores) acquired.
 

 

1969  •Richard W. Jencks appointed President, CBS/Broadcast Group.
 

 

  •John A. Schneider appointed Executive Vice President, CBS Inc.
 

 

•CBS purchases interests in cable television systems in Washington, California and Oregon.
 

 

•National Handcraft Institute, Inc. (mail order handcraft kits) acquired.
 

 

•Supreme Court's decision in Red Lion Broadcasting Company, Inc.   v. Federal Communications Commission decides the Fairness Doctrine is constitutional.
 

 

1970  •CBS has 22,000 employees; net profits total $64.1 million; net sales total $1.23 billion.
 

 

•CBS enters vocational and technical training school field.  Acquires Kansas City Business College; Franklin School of  Science and Arts, Inc.; Business Methods Institute, and Vale Technical Institute.
 

 

•FCC adopts rule prohibiting network ownership of cable television systems.
 

 

1971  •Charles T. Ireland becomes President, Columbia Broadcasting System, Inc.; Frank Stanton becomes Vice Chairman.
 

 

  •John A. Schneider re-appointed President, CBS/Broadcast Group.
 

 

•Popular Library, Inc. (publisher of paperback books) acquired.
 

 

•X-acto, Inc. (manufacturer of tools for making handicrafts) acquired.
 

 

•FCC adopts Financial Interest and Syndication Rules prohibiting CBS, ABC and NBC from acquiring partial ownership in network television programs and selling "reruns" to local television stations.
 

 

  •CBS divests syndication business and cable television holdings.
 

 

  •ALL IN THE FAMILY debuts on CBS Television Network.
 

 

  Road & Track, Cycle World magazines acquired.
 

 

1972  •Arthur Taylor becomes President, Columbia Broadcasting System, Inc.
 

 

•First Electronic News gathering (ENG) unit installed at WCAU-TV Philadelphia.  ENG -- which includes a portable color camera and tape recorder -- is now used in virtually every television station in the United States.
 

 

•Steinway & Sons, pianos, acquired.
 

 

  World Tennis magazine acquired.
 

 

  Pick-Up Van and 4-Wheel Drive (later PV4) magazine is started.
 

 

•Pacific Electronics, Inc. (later Pacific Stereo) home electronic retail stores chain acquired.
 

 

  •M*A*S*H and THE WALTONS debuts on CBS Television Network.
 

 

•Brown Institute; Thompson Institute (vocational training schools) acquired.
 

 

  •Cinema Center Films disbanded.
 

 

1973  • Dr. Frank Stanton leaves the Company (March 30)
 

 

  •Sea Publications, Inc. (Sea magazine) acquired.

  •Billy Joel signs with CBS Records.
 

 

  •Gulbransen Industries (music organs) acquired.
 

 

  •New York Yankees Inc. sold.
 

 

•Supreme Court rules in CBS Inc. v. Democratic National Committee that there is no general right of access to the broadcast media for the presentation of views on public issues -- upholding the editorial discretion of broadcasters.
 

 

1974  •Columbia Broadcasting System, Inc. changes name to CBS Inc.
 

 

1976  •John D. Backe becomes President, CBS Inc.
 

 

  •Wonder Products Company (spring-suspended riding toys) acquired.
 

 

  •Discount Records sold.
 

 

1977  •Gene F. Jankowski appointed President, CBS/Broadcast Group following John A. Schneider's resignation.
 

 

  • The CBS Entertainment Division is established, with Robert Daly as its President.  (October 17)
 

 

•Fawcett Publications, Inc. acquired; assets include: Woman's Day, Mechanix Illustrated (renamed Home Mechanix in 1984) and   Rudder (later merged with Sea) magazines;t  e Fawcett World Library (paperback book imprints), Fawcett Marketing Service (became CBS Magazine Marketing in 1982) and Fawcett Fulfillment Service (dissolved in 1980).
 

 

•Gemeinhardt Corporation (flutes and piccolos); Lyon and Healy, Inc. (harps) and Rodgers Organ Company acquired.
 

 

1978  •Gabriel Industries, Inc. (including Gabriel, Child Guidance and Gym-Dandy toy product lines) acquired.
 

 

  •Julio Iglesias signs with CBS Records International.
 

 

1979  •CBS SUNDAY MORNING debuts on CBS Television Network.
 

 

  Audio magazine acquired.
 

 

  •Paul McCartney signs with CBS Records
 

 

  •CBS vocational school operations sold.
 

 

1980  •Thomas H. Wyman becomes President and Chief Executive Officer, CBS Inc.
 

 

•CBS has 36,000 employees; net profits total $193.0 million; net sales total $3.962 billion.

Family Weekly (Sunday newspaper magazine supplement) and American Photographer magazine acquired.
 

 

 Sea magazine sold.
 

 

  •Electro-Music Inc. (Leslie speakers) sold.
 

 

•CBS enters home video field -- CBS Video Enterprises unit established.
 

 

•CBS enters Consent Decree limiting rights obtainable in television programs and in-house production of network television programs.
 

 

•CBS Cable established to produce, advertiser-supported cultural programming to basic cable systems.
 

 

1981  •Carrollton, Georgia record, tape and videodisc manufacturing and distribution facility opened.  The plant's state-of-the-art equipment significantly reduces product manufacturing cost.
 

 

  •CBS and AT&T conduct joint videotex field test (Venture One) in Ridgewood, New Jersey.
 

 

•Santa Maria, California record and tape-manufacturing facility closed as part of productivity improvement program.
 

 

•CBS signs Consent Decree with Department of Justice to divest the Popular Library unit.
 

 

  •Michael Jackson signs exclusive contract with CBS Records.
 

 

•BFA Educational Media (formerly Bailey Films and Films Associates of California) sold.
 

 

  •X-acto, Inc. sold; National Handcraft Institute dissolved.
 

 

1982  •CBS and Twentieth Century-Fox Corporation form CBS/FOX Company, a joint venture to acquire and distribute prerecorded video entertainment and operate Studio Center.
 

 

  •Ideal Toy Corporation acquired.
 

 

•MGM/UA Song catalogs (50,000 music publishing copyrights) acquired.
 

 

•CBS Software is formed to acquire, license, develop and market recreational, educational and home management software for the home computer market.
 

 

•Black Hawk Cable Communications -- 35 channel cable system in the Dallas-Fort Worth area -- is acquired under special 1981 FCC waiver which gave CBS permission to own cable system whose total  subscribers do not exceed 90,000.
 

 

  •RADIORADIO (second national CBS radio network) established.
 

 

Cuisine magazine; Cassell, Ltd. (British-based business and educational publishing firm) acquired.
 

 

•CBS Video Club established to market pre-recorded video cassettes to VCR owners.
 

 

•CBS forms video game unit to market video games domestically and internationally.
 

 

•CBS divests Fawcett and Popular Library Paperback book imprints.  PV4 magazine sold.
 

 

  •The CBS Cable service discontinued.
 

 

•Tri-Star Pictures joint venture (motion picture studio) formed with CBS, Time Incorporated's Home Box Office, and Coca Cola's Columbia Pictures Industries.
 

 

1983  •Thomas H. Wyman becomes Chairman, CBS Inc. in addition to the positions of President and Chief Executive Officer.  William S. Paley becomes Founder Chairman, CBS Inc.
 

 

•CBS Music Video Enterprises established to produce and distribute music video programming.
 

 

•CBS Catalogs Partnership (incorporating MGM/UA Song Catalogue)  established with the Prudential Insurance Company of America, the Northwestern Mutual Life Insurance Company and the Minnesota Mutual Life Insurance Company.
 

 

•CBS/SONY GROUP INC. establishes the Digital Audio Disc Corporation in Terre Haute, Indiana to manufacture compact audio discs.
 

 

•CBS Television Network launches EXTRAVISION™, the first national over-the-air teletext information service.
 

 

  •The Rolling Stones sign with CBS.
 

 

  •WEEI-AM Boston sold.
 

 

•Pacific Stereo (formerly Pacific Electronics) home electronics retail store chain sold.
 

 

  •CBS domestic video game operations discontinued.
 

 

•Final episode of M*A*S*H is most watched program in modern  television history.
 

 

1984  •CBS, IBM Corporation and Sears Roebuck and Company form videotex joint venture (TRINTEX) to develop a commercial videotex service to households with home computers.
 

 

•Michael Jackson's "Thriller" album, released in 1982, becomes biggest-selling album of all time.
 

 

•CBS achieves most profitable first quarter of its history; net income increases 119 percent to $38.9 million, revenues rise 13 percent to $1.18 billion.
 

 

•CBS agrees to purchase Ziff-Davis's consumer magazine publishing  operations.   Magazines acquired include:Backpacker, Boating, Car and Driver, Cycle, Flying, Modern Bride, Popular Photography, Skiing, Skiing Trade News, Stereo Review, The Runner and Yachting.
 

 

•CBS agrees in principle to acquire interests in SportsChannel (four regional pay sports networks) and the Rainbow Service, producer of the two-channel cable service consisting of Bravo (performing arts and international films) and American Movie Classics (pre-1970 American films).
 

 

•Seabury Press, Inc. and TransMedica, Inc. (medical publishers) acquired.
 

 

•W.B. Saunders and Bibliographical Retrieval Services (a leading producer and distributor of databases) established on-line computer medical information joint venture:  BRS/Saunders Medical Knowledge Resources.
 

 

•CBS discontinues videodisc manufacturing in Carrollton, Georgia facility following RCA announcement to discontinue videodisc player manufacturing.
 

 

Cuisine magazine ceases publication; subscriber list sold to Conde Nast.
 

 

•CBS and Gerald D. Hines Interests form joint venture to develop property adjacent to CBS Headquarters in New York.
 

 

•FCC modifies rules on multiple ownership of television stations,  allowing companies to own up to 12 television stations that taken together, do not reach more than 25 percent of U.S. television households.  FCC also changes radio ownership rule -- allows companies to own up to 12 AM and 12 FM radio stations.
 

 

•CBS announces decision to sell the musical instruments properties.
 

 

1985  •World Tennis magazine sold to Family Media Inc.
 

 
 
 

  Family Week Sunday newspaper supplement sold to Gannett Company.
 

 

  •Ted Turner presents his proposal to acquire CBS stock.
 

 

•CBS acquires five radio stations:  KTXQ(FM) Dallas/Ft. Worth; KLTR(FM) Houston; WLTT(FM) Wash. D.C.; WSUN-AM Tampa, Florida, and WYNF(FM) Tampa.
 

 

•CBS acquires an interest in Winterland Productions, a corporation engaged primarily in the design, printing and marketing of merchandise for the music and entertainment industries.
 

 

•CBS repurchases 21 percent of outstanding common stock for $954.8 million in cash and notes in major re-capitalization program.
 

 

  •Black Hawk Cable Communications sold to Sammons Communications.
 

 

•CBS sells musical instruments assets including Steinway & Sons pianos, Gemeinhardt Company flutes and piccolos, the Rodgers Organ Company, and Lyon & Healy harps to Steinway Musical Properties, Inc.  Fender Musical Instruments (Fender electric guitars, acoustic guitars, amplifiers and strings; Rhodes electric pianos; Rogers drums; Chroma and Chroma Polaris synthesizers; and Pro-sound equipment) sold to private   investor group.
 

 

•CBS disposes of interest in Tri-Star Pictures (motion picture production).
 

 

•CBS announces plans to sell its interest in the Digital Audio Disc Corporation's Compact Disc facility in Terre Haute, Indiana.
 

 

•CBS acquires interests in SportsChannel (regional pay sports networks) and the Rainbow Service, producer of the two-channel cable service consisting of Bravo (performing arts and  international films) and American Movie Classics (pre-1970American films).  In addition, CBS acquires interests in Rainbow Programming Services Company, which markets and distributes SportsChannel and the Rainbow Service.
 

 

  •Laurence A. Tisch elected to CBS Board of Directors.
 

 

•Holt General Book unit (the trade book publishing arm of the CBS Educational and Professional Publishing Division) sold to Verlagsgruppe Georg Von Holtzbrinck GmBh.
 

 

1986  •Praeger Publishers, a unit of CBS Educational and Professional  Publishing Division, sold to Greenwood Press, Inc.
 

 

•CBS sells toy business assets including the Ideal, Creative Playthings, Wonder, Gym Dandy and Child Guidance product lines.  Ideal sold to Viewmaster International; Creative Playthings sold to Swing Design; Wonder/Gym Dandy sold to Wonderline Inc. and Child Guidance sold to Hasbro    Inc.
 

 

•Winston-Seabury Press, a unit of CBS Educational and Professional Publishing Division, sold to Harper & Row Publishers, Inc.
 

 

•CBS Owned television station, KMOX-TV St. Louis, sold to Viacom International, Inc.
 

 

  Automobile Quarterly, Leisure Time Electronics acquired.
 

 

•CBS announces intention of building compact disc manufacturing and mastering facility at Pitman, New Jersey.
 

 

•Bruce Springsteen's "Live/1975-85" multi-album set sells a record one million units in its first day in stores.
 

 

•Thomas H. Wyman resigns positions of Chairman, President and  Chief Executive Officer of CBS Inc.  William S. Paley becomes acting Chairman.  Laurence A. Tisch becomes acting Chief Executive Officer.
 

 

•Neisa/Interamericana (a publisher and distributor of medical, dental, science, engineering, business, economics and social science textbooks) sold to McGraw-Hill, Inc.
 

 

•CBS Music Publishing assets (including CBS Catalogue  Partnership, April Music Inc., Blackwood Music Inc., Music Theatre International and CBS Songs International) sold to SBK Entertainment World.
 

 

•CBS Technology Center in Stamford, Connecticut ceases operation and technological support functions transferred to operating  groups.
 

 

•CBS withdraws from TRINTEX, the joint venture formed with IBM Corporation and Sears, Roebuck and Co.
 

 

•CBS Educational and Professional Publishing (CEPP) assets sold to Harcourt Brace Jovanovich, Inc. for $500 million.  The sale included Holt, Rinehart and Winston and W.B. Saunders school, college and professional publishing businesses.
 

 

  •CBS Radio launches syndicated programming service, CBS Radio Programs
 

 

1987  •William S. Paley elected Chairman and Laurence A. Tisch elected  President and Chief Executive Officer of CBS Inc.
 

 

•CBS sells its interests in the various SportsChannel Partnerships to a subsidiary of Cablevisions Systems Inc.
 

 

•CBS enters into an agreement to sell the business and assets of CBS Magazines Division for $650,000,000.
 

 

•CBS signs definitive agreement to sell its CBS/Records Group to the Sony Corporation for approximately $2 billion.
 

 

1988  •CBS completes sale of its records operations to the Sony Corporation.  (January)
 

 

•CBS/Broadcast Group announces the formation of CBS Marketing Division and CBS Affiliate Relations Division. (May)
 

 

•CBS acquires broadcast rights to 1992 Winter Olympic Games in  Albertville, France for $243 million.   May)
 

 

  •Gene F. Jankowski appointed Chairman, CBS/Broadcast Group. (July)
 

 

  •Howard Stringer appointed President, CBS/Broadcast Group. (July)
 

 

  •David Burke appointed President, CBS News Division. (July)
 

 

•Nancy Widmann appointed President, CBS Radio (August)
 

 

•CBS agrees to acquire WCIX-TV, Miami, Florida. (August)
 

 

•Preston R. Tisch elected to CBS Board. (September)
 

 

•CBS acquires exclusive Network broadcast rights to Major League Baseball. (December)
 

 

•CBS enters into definitive agreement to acquire radio stations WWJ and WJOI(FM), Detroit, Michigan. (December)
 

 

1989  •CBS completes acquisition of WCIX-TV, Miami, Florida for $59 million. (January)
 

 

•CBS finalizes purchase of WWJ and WJOI(FM), Detroit, Michigan for $58 million. (March)
 

 

•CBS acquires broadcast rights to 1994 Winter Olympic Games in Lillehammer, Norway for $300 million. (August)
 

 

•Henry A. Kissinger elected to CBS Board. (September)
 

 

•James A. Warner named President of CBS Enterprises, a newly created Division of the CBS/Broadcast Group. (November)
 

 

•CBS acquires seven-year exclusive television rights to NCAA basketball tournament. (November)
 

 

•Jeff Sagansky named President, CBS Entertainment. (December)
 

 

1990  •CBS to sell WSUN(AM) Tampa to Cox Enterprises, Inc. (February)
 

 

•CBS signs four-year agreement for NFL Football broadcast rights (March)
 

 

•WCAU(AM) Philadelphia changes call letters and format to become WOGL(AM). (August)
 

 

  

•Eric W. Ober named President, CBS News Division. (August)

 
 

•Johnathan Rodgers named President, CBS Television Stations Division. (September)
 

 

•Peter A. Lund named Executive Vice President, CBS/Broadcast Group and President, CBS Marketing Division.  (October)
 

 

•William S. Paley, Chairman of the Board and Founder of CBS Inc. dies. (October 26)
 

 

•Laurence A. Tisch named Chairman of the Board, in addition to President and Chief Executive Officer of CBS Inc. (December)
 

 

•CBS announces $2 Billion cash tender offer for common stock at a price of $190 per common share. (December) 1991 

 

•CBS concludes offer to purchase shares of its common stock.  (January)
 

 

•CBS announces final results of offer to purchase shares of its common stock. (February)
 

 

•CBS Inc and Twentieth Century Fox extend and restructure home video partnership. (February)
 

 

•KODJ(FM) Los Angeles becomes KCBS(FM) sharing strong identity with CBS and the Oldies format. (July)
 

 

•Ellen Oran Kadan named Vice President, General Counsel and Secretary, CBS Inc. (July)
 

 

•CBS agrees to acquire television and radio stations from Midwest Communications, Inc. (July)
 

 

•Harry Reasoner, a founding editor of 60 MINUTES, dies at 68. (August)
 

 

•CBS files $400 Million shelf registration to sell debt securities.  (August)
 

 

•CBS files S-4 registration statement to purchase assets of Midwest Communications, Inc. (September)
 

 

•CBS announces its intention to sell KLOU(FM) in St. Louis.  (November)
 

 

•KPIX San Francisco and CBS Television Network announce early prime time in San Francisco (December)
 

 

  •CBS announces $50 million share repurchase program. (December)
 

 

1992  •CBS and NARAS sign five-year agreement for CBS to continue broadcasting the Grammy Awards.  (January)
 

 

•CBS announces $150 million 10-year debt offering (January)
 

 

•CBS to redeem its convertible series A preference stock (January)
 

 

•CBS broadcasts Olympic Winter Games from Albertville, France.  First time Network has broadcast Olympics since 1960.
 

 

•CBS to purchase television production facilities from MTM Studios, Ltd. (February)
 

 

•CBS Acquires Television Production Facilities from MTM Studios,  Ltd.    ow owns entire MTM lot in Studio City.  (March)
 

 

•CBS ends 1991-92 broadcast season in first place.  First time in television history a jump from third place to first place in a single season occurs. (April)
 

 

  •CBS Announces 7-Year and 30-Year Debt Offerings. (May)
 

 

•Eric Sevareid, distinguished CBS News Correspondent, dies at 79.  (July 9)
 

 

•CBS opens new state-of-the-art studios in Los Angeles, adjacent and linked to CBS Television City Studios. (November)
 

 

1993  •William B. Lodge, pioneer broadcaster with CBS, dies at 85.  (January)
 

 

•CBS announces David Letterman will bring his acclaimed Late Night Show to CBS.  (January)
 

 

•Richard Salant, Former CBS News President, dies at 78. (February)
 

 

•CBS purchases Landmark Ed Sullivan Theater to house David Letterman show.  (February)
 

 

•CBS to redeem its 5% Convertible Debentures on May 4, 1993 and to file a $450 Million Shelf Registration for Debt Securities. (March)
 

 

•CBS will remain headquartered in New York City for the next 15 years under agreement with the City and State. (March)
 

 

•CBS wins 1992-93 Primetime Season for second year in a row. (April)
 

 

•The CBS Owned Television Stations will opt for "Retranmsission Consent" rather than "Must Carry". (May)
 

 

•Connie Chung to Join Dan Rather as Co-Anchor of the CBS EVENING NEWS, beginning June 1. (May)
 

 

•CBS introduces the Advance Parental Advisory Plan, a Four Network Proposal for a two-year test to identify programs containing violence. (June)
 

 

•CBS Inc. and Viacom International Inc. settle longstanding lawsuit regarding proceeds from distribution of programs like "Honeymooners", "I Love Lucy", "Twilight Zone". (July)
 

 

•CBS Radio and Cox Enterprises agree to exchange assets in Tampa and Dallas. (August)
 

 

•CBS Premieres LATE SHOW with DAVID LETTERMAN. (August)
 

 

•CBS Announces Record-Setting Third-Quarter Earnings. (October)
 

 

•CBS Announces Offering of $100 Million of 7 1/8% Senior Debt Notes due 2023. (October)
 

 

•CBS and VCR Plus+ to Provide Spot Advertisers with new method for presenting long-form sales messages. (November)
 

 

•CBS Inc. and Cox Enterprises, Inc. Complete Exchange of Radio Stations. (December)
 

 

•CBS News, The New York Times Company and Apple Computer, Inc. announce interactive CD-Rom software encyclopedia on Vietnam War. (December)
 

 

•CBS loses rights to NFL for 4 years to FOX Broadcasting. (December)
 

 

1994  •Martin D. Franks is appointed Senior Vice President, CBS Inc. (January)
 

 

•CBS Announces Record-Setting Earnings for 1993. (February)
 

 

•CBS Sports and the Southeastern and Big East Conferences Agree to Multi-Year Television Contracts.  (February)
 

 

•CBS has largest margin of victory ever in a sweep rating period (February Sweeps).  (March)
 

 

• CBS coverage of 1994 Winter Olympic Games was most watched single television event in history.  (March)
 

 

•Peter A. Lund named President, CBS Television Network. (March)
 

 

•Mark Harrington promoted to Senior Vice President, New Media, CBS Inc. (March)
 

 

•CBS Announces Record-Setting First-Quarter Earnings. (April)
 

 

•Peter Tortorici named President, CBS Entertainment.  Larry Sanitsky joins Company as Executive Vice President, CBS Entertainment.  Steve Warner promoted to Senior Vice President, Program Planning.  (April)
 

 

•David Kenin named President, CBS Sports. (April)
 

 

•Joseph D. Abruzzese promoted to Executive Vice President, Sales, CBS Television Network; David F. Poltrack promoted to Executive Vice President, Research and Planning, CBS/Broadcast Group;  George F. Schweitzer promoted to Executive Vice President, Marketing and Communications, CBS/Broadcast Group.  (April)
 

 

• CBS finishes the 1993-94 season with the highest total day share of audience in the history of three-network competition in winning the Triple Crown -- first in Prime Time, Late Night and Daytime, another first for a television network.  (April)
 

 

• CBS Inc. announces it will not pursue its acquisition of QVC Inc. in light of the offer for QVC made by Comcast Corporation.  (July)
 

 

• CBS Inc. and Westinghouse Broadcasting Company (Group W) announced an agreement by which the companies will join in a comprehensive strategic partnership establishing long-term station affiliations between CBS and all the Group W television stations and creating new, jointly-held entities that will expand both companies' distribution and programming capabilities nationwide.  (July)
 

 

• CBS announces self tender for 3.5 million shares of its common stock at $325 per share in cash.  (July)
 

 

• CBS announces that following the tender offer, it intends to effect a five-for-one share split, paying a stock dividend of four new shares on each outstanding common share.  The Company also intends to continue its regular cash dividend on $2.00 per common share annually, or 40 cents per share on the split shares.  (July)
 

 

• The CBS Board of Directors announces a 5-for-1 split of CBS common stock to be effected by paying a stock dividend of four new shares on each share of CBS common stock outstanding.  The stock dividend is payable October 18, 1994 to shareholders of record on October 3, 1994.  (September)
 

 

• CBS announces the purchase of WGPR-TV Detroit (Channel 62) from WGPR, Inc., for $24 million cash and WVEU-TV Atlanta (Channel 69) rom Broadcast Corporation of Georgia for $22 million cash. (September)  
 

 

• CBS reaches agreement with Tribune Broadcasting Company for the affiliation of WGNX, Channel 46 in Atlanta.  CBS intends to honor its previously announced agreement with Broadcast Corporation of Georgia to purchase television station WVEU Atlanta, subject to FCC approval.  CBS will promptly seek to identify an acceptable purchaser to acquire WVEU. (November)
 

 

• CBS Inc. and the National Broadcasting Company, Inc., announce agreement to exchange certain television broadcast stations and assets in Denver, Miami, Philadelphia and Salt Lake City.  Under the agreement signed November 21, NBC will acquire CBS’s Owned Television station WCAU-TV Philadelphia.  On behalf of the previously announced joint venture between CBS and Westinghouse Broadcasting Company (Group W), CBS will acquire NBC's Owned Television station KCNC-TV Denver, and will receive $30 million in cash from NBC.  In Miami, NBC and CBS will exchange their current television broadcast towers and channel positions.  Following the closing of these transactions, NBC's Owned Television station in Miami, WTVJ-TV, will be broadcast over Channel 6 and CBS's Owned Television station, WCIX-TV, will be broadcast over Channel 4.  CBS will also acquire, on behalf of the joint venture, television station KUTV-TV Salt Lake City, following the closing of NBC's pending acquisition of that station.  The consideration to be paid by the joint venture for KUTV-TV will be $124 million, consisting of a combination of cash and the assumption of that station's obligations.  Upon the closing of these transactions, which are subject to the necessary regulatory approvals and other customary closing conditions, the stations and assets acquired by CBS will become owned by the joint venture between CBS and Group W.  In addition, at that time, CBS's Owned station in Miami and Group W's Owned station in Philadelphia, KYW-TV, will also be owned by the joint venture.  Under the terms of the joint venture arrangements, Group W will control the operation of the stations owned by the venture.  Each of these stations -- KYW-TV, Channel 3, Philadelphia; WCIX-TV, Channel 4, Miami; KCNC-TV, Channel 4, Denver, and KUTV-TV, Channel 2, Salt Lake City -- will be affiliated with the CBS Television Network.  (November)
 

 

• WGPR-TV Detroit (Channel 62) goes on line with CBS programming on Dec. 11, 1994.
 

 

1995  • Westinghouse Broadcasting Company (Group W) stations WJZ-TV Baltimore and WBZ-TV Boston go on line as CBS Television Network affiliates on Jan. 2, 1995.
 

 

• Peter A. Lund was named President of the CBS/Broadcast Group, succeeding Howard Stringer, who left CBS to join a new media company. Feb. 23, 1995)
 

 

• Steven Bochco and CBS Entertainment entered into an exclusive agreement through the year 2000.  The nine-time Emmy Award winner and creator of the seminal television dramas "Hill Street Blues," "L.A. Law" and "NYPD Blue," will produce all of his newly created series from 1997 through 2000 for broadcast on the CBS Television Network, in a co-venture with CBS Entertainment, which will have joint ownership and worldwide distribution rights.  CBS Entertainment will also have an opportunity to broadcast any projects which become available under Bochco's current commitments through December 1996.  (February)
 

 

• CBS announced that it will purchase WPRI-TV Channel 12 in Providence, Rhode Island, from Narragansett Television L.P. -- the sale subject to the necessary regulatory approvals and other customary conditions of closing.  WPRI-TV, an ABC affiliate, began operation on March 27, 1955.  (March)
 

 

• James A. Warner was named President, CBS Television Network, responsible for all areas of the CBS Television Network, including  CBS Affiliate Relations, CBS Network Sales and CBS Advertising, Marketing and Promotion.  He also has overall responsibility for CBS Enterprises, where he has served as President since it was established in December 1989.  (April)
 

 

• Rainer Siek was named President, CBS Enterprises, CBS/Broadcast Group, overseeing CBS Broadcast International, CBS Video and CBS Licensing and Merchandising -- the sales, marketing and distribution of CBS programming in international and domestic television markets; the video label that produces and markets CBS home videos; the creation and distribution of other consumer products, and the development of new programming-related business opportunities for the Company.  (April)
 

 

• Leslie Moonves named President, CBS Entertainment, and Executive Vice President, CBS/Broadcast Group, reporting to Peter Lund, President, CBS/Broadcast Group.  Moonves had been President, Warner Bros. Television.  Peter Tortorici, who had served as  President, CBS Entertainment, since April 1994, resigned.  (June)
 

 

• CBS and Granite Broadcasting Corporation announced a 10-year affiliation arrangement for Granite's three CBS Television Network affiliates.  Two of the stations have been CBS affiliates for more than four decades -- WTVH-TV Syracuse (Channel 5) since 1949 and WWMT-TV Grand Rapids-Kalamazoo-Battle Creek (Channel 3) since 1950.  KEYE-TV Austin (Channel 42) became a CBS affiliate on July 2, and this arrangement extends the initial term of the agreement.  (July)
 

 

• Billy Campbell named Executive Vice President, CBS Entertainment.  His primary focus will be to develop new programming, while being involved in all aspects of CBS Entertainment's other operations.  Campbell joined CBS from Warner Bros. Television, where he was Senior Vice President, Drama Development.  In that post, he spearheaded the company's dramatic series development efforts.  (July)
 

 • Group W Television and CBS launched the largest single-network sales representation firm in the industry.  The new company,  called CBS/Group W Television Sales, begin operations July 17 following more than a year of planning for the consolidation of the two sales firms.  The new entity represents stations covering more than 32% of the nation.  (July)
 

 

• ABC, CBS, Fox and NBC announced the creation of a $2 million fund to spur the development and production of devices that will give parents the technological tools to limit the viewing of individual programs or even entire channels they deem to be objectionable.  The four networks said they hoped this good faith proposal can become the basis for wider agreement within the television industry as to how best to empower viewers/parents to select programming appropriate for their homes.  In so doing, they reaffirmed their corporate responsibility for continuing efforts to air programs that reflect reasonable, contemporary standards appropriate for a wide range of audiences.  (August 1).
 

END

Return to the main index page for this section.