•United Independent Broadcasters, Incorporated debuts with network of 16 independent radio stations
•William S. Paley acquires United Independent Broadcasters Incorporated, changes name to Columbia Broadcasting System, Incorporated, and becomes President of the Company.
•CBS has 400 employees; net profits total $.9 million; net sales total
•CBS begins regularly scheduled television programming over experimental station W2XAB in New York City.
•WBBM-AM Chicago acquired.
•KMOX-AM St. Louis acquired.
•Columbia News Service -- the first radio network news operation --
is organized by CBS.
•Communications Act adopted, establishing Federal Communications Commission (FCC) and regulatory structure for broadcast industry. Equal Time provision adopted.
•CBS becomes nation's largest radio network.
•KNX-AM Los Angeles, acquired.
•CBS Laboratories established in New York City to conduct technological research for CBS and outside clients.
•CBS stock first listed on the New York Stock Exchange.
•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.
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.
•Benny Goodman, Count Basie, The Budapest String Quartet and the
hiladelphia Orchestra sign with CBS Records.
•CBS has 2,000 employees; net profits total $5.0 million; net sales
total $36.2 million.
color television broadcast from CBS transmitter at top of the Chrysler
Building and received in CBS Building at 485 Madison Avenue.
rules that a company cannot own more than six FM radio stations.
•WCBS-TV New York (formerly WCBW) acquired.
begins weekly broadcast of black and white television program service
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.
•WEEI-AM Boston, acquired.
•WCBS-FM New York; WBBM-FM Chicago acquired.
Washington Office established to represent the Company before administrative
and executive agencies and the Congress on matters affecting policy,
regulation, legislation and law.
•FCC raises limit of television stations -- any company can own five.
•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.
•William S. Paley becomes Chairman; Frank Stanton becomes President,
Columbia Broadcasting System Inc.
CBS Records International affiliate established in Mexico.
adopts de facto rule that a company may not own more than seven AM radio
stations. FCC makes Chain Broadcasting Rules applicable to television.
•WCAU-TV Philadelphia as first CBS Television Network affiliate.
Within the year, there are 30 affiliated stations.
(now KCBS-FM) Los Angeles and WEEI-FM (now WODS-FM) Boston acquired.
presents first full television coverage of presidential election returns.
OF THE TOWN (later THE ED SULLIVAN SHOW) begins a 23-year run on CBS
CBS-TV NEWS WITH DOUGLAS EDWARDS becomes the first regularly scheduled
television network news broadcast.
introduces 33 1/3 long-playing record, expanding the amount of music
per record and reducing the cost of purchasing a recorded music
•KCBS-AM and KCBS-FM (now KLLC-FM) San Francisco acquired.
GODFREY AND HIS FRIENDS (later THE ARTHUR GODFREY SHOW) debuts on the
CBS Television Network.
Doctrine adopted by FCC requiring broadcasters to present opposing views
on controversial issues.
•CBS has 3,000 employees; net profits total $4.1 million; net sales
total $99.6 million.
Burns, Gracie Allen, Garry Moore and Jack Benny debut on the CBS Television
•KNXT-TV (formerly KTSL; now KCBS-TV) Los Angeles acquired.
broadcasts first live coast-to-coast television transmission between
New York and San Francisco.
enters television manufacturing field -- Hytron Radio & Electronics
•I LOVE LUCY debuts on CBS Television Network.
•CBS opens Television City, Hollywood -- the industry's first self-contained
television production facility.
•WBBM-TV, Chicago acquired.
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.
consolidates broadcast ownership rules so that no company can own more
than seven AM, seven FM and five television stations.
•CBS Television Network becomes the world's largest advertising medium.
•FACE THE NATION debuts on the CBS Television Network.
sets television ownership at seven (5 VHF, 2 UHF), resulting in the
"7-7-7" rule for AM and FM radio and television stations.
•Columbia Record Club (later the Columbia Record and Tape Club), direct-to-home
mail marketing of audio records established.
House Canada (largest record and tape club in Canada) established.
•PLAYHOUSE 90 debuts on CBS Television Network.
by CBS, "My Fair Lady" premieres on Broadway. The show runs for
a record breaking 2,717 performances.
•CBS MORNING NEWS debuts on CBS Television Network.
•KMOX-TV St. Louis and WCAU-TV Philadelphia acquired.
(now WPHT-AM) and WCAU-FM (now WOGL-FM) Philadelphia acquired.
Laboratories (now CBS Technology Center) moves from New York City to
•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.
•CBS has 15,000 employees; net profits total $23.2 million; net sales
total $464.6 million.
equal time rule is suspended to permit the broadcast of first presidential
debate, between John F. Kennedy and Richard M. Nixon.
Record and Tape manufacturing facility in Pitman, New Jersey opens.
•CBS discontinues involvement in television manufacturing -- Hytron
Records International subsidiary established in England.
Dylan signs with CBS Records.
•KMOX-FM (now KLOU-FM) St. Louis acquired.
•Barbra Streisand signs with CBS Records.
•CBS record and tape manufacturing and distribution facility in Santa
Maria, California established.
•New York Yankees Inc. acquired.
enters the cable television system ownership field -- acquires interest
in a cable television system in Vancouver, Canada.
•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
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).
•John A. Schneider appointed President of newly created CBS/Broadcast
enters toy field -- Creative Playthings, Inc. acquired.
•Rogers Drums, Inc. acquired.
•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).
Films and Film Associates of California (later BFA Educational Media)
Center, a 29-acre television production facility in Los Angeles, California,
Theatrical Films Division (later Cinema Center Films) established.
•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.
Saunders (medical textbook publishers) acquired.
re-establishes Dryden Press imprint (business and economic publishing).
creates and makes first use of mini-camera in news gathering. The "minicam"
allows for more rapid, on the spot coverage of news events.
MINUTES debuts on CBS Television Network.
Records (recorded music retail stores) acquired.
•Richard W. Jencks appointed President, CBS/Broadcast Group.
A. Schneider appointed Executive Vice President, CBS Inc.
purchases interests in cable television systems in Washington, California
Handcraft Institute, Inc. (mail order handcraft kits) acquired.
Court's decision in Red Lion Broadcasting Company, Inc.
v. Federal Communications Commission decides the Fairness Doctrine
•CBS has 22,000 employees; net profits total $64.1 million; net sales
total $1.23 billion.
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.
adopts rule prohibiting network ownership of cable television systems.
•Charles T. Ireland becomes President, Columbia Broadcasting System,
Inc.; Frank Stanton becomes Vice Chairman.
A. Schneider re-appointed President, CBS/Broadcast Group.
Library, Inc. (publisher of paperback books) acquired.
Inc. (manufacturer of tools for making handicrafts) acquired.
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.
divests syndication business and cable television holdings.
IN THE FAMILY debuts on CBS Television Network.
& Track, Cycle World magazines acquired.
•Arthur Taylor becomes President, Columbia Broadcasting System, Inc.
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.
& Sons, pianos, acquired.
Tennis magazine acquired.
Van and 4-Wheel Drive (later PV4) magazine is started.
Electronics, Inc. (later Pacific Stereo) home electronic retail stores
and THE WALTONS debuts on CBS Television Network.
Institute; Thompson Institute (vocational training schools) acquired.
Center Films disbanded.
• Dr. Frank Stanton leaves the Company (March 30)
•Sea Publications, Inc. (Sea magazine) acquired.
Joel signs with CBS Records.
Industries (music organs) acquired.
York Yankees Inc. sold.
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.
•Columbia Broadcasting System, Inc. changes name to CBS Inc.
•John D. Backe becomes President, CBS Inc.
Products Company (spring-suspended riding toys) acquired.
•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)
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).
Corporation (flutes and piccolos); Lyon and Healy, Inc. (harps) and
Rodgers Organ Company acquired.
•Gabriel Industries, Inc. (including Gabriel, Child Guidance and Gym-Dandy
toy product lines) acquired.
Iglesias signs with CBS Records International.
•CBS SUNDAY MORNING debuts on CBS Television Network.
McCartney signs with CBS Records
vocational school operations sold.
•Thomas H. Wyman becomes President and Chief Executive Officer, CBS
•CBS has 36,000 employees; net profits total $193.0 million; net sales total $3.962 billion.
Weekly (Sunday newspaper magazine supplement) and American Photographer
Inc. (Leslie speakers) sold.
enters home video field -- CBS Video Enterprises unit established.
enters Consent Decree limiting rights obtainable in television programs
and in-house production of network television programs.
Cable established to produce, advertiser-supported cultural programming
to basic cable systems.
•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.
Maria, California record and tape-manufacturing facility closed as part
of productivity improvement program.
signs Consent Decree with Department of Justice to divest the Popular
Jackson signs exclusive contract with CBS Records.
Educational Media (formerly Bailey Films and Films Associates of California)
Inc. sold; National Handcraft Institute dissolved.
•CBS and Twentieth Century-Fox Corporation form CBS/FOX Company, a joint
venture to acquire and distribute prerecorded video entertainment and
operate Studio Center.
Toy Corporation acquired.
Song catalogs (50,000 music publishing copyrights) acquired.
Software is formed to acquire, license, develop and market recreational,
educational and home management software for the home computer market.
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
(second national CBS radio network) established.
magazine; Cassell, Ltd. (British-based business and educational publishing
Video Club established to market pre-recorded video cassettes to VCR
forms video game unit to market video games domestically and internationally.
divests Fawcett and Popular Library Paperback book imprints. PV4
CBS Cable service discontinued.
Pictures joint venture (motion picture studio) formed with CBS, Time
Incorporated's Home Box Office, and Coca Cola's Columbia Pictures Industries.
•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.
Music Video Enterprises established to produce and distribute music
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.
GROUP INC. establishes the Digital Audio Disc Corporation in Terre Haute,
Indiana to manufacture compact audio discs.
Television Network launches EXTRAVISION™, the first national over-the-air
teletext information service.
Rolling Stones sign with CBS.
Stereo (formerly Pacific Electronics) home electronics retail store
domestic video game operations discontinued.
episode of M*A*S*H is most watched program in modern television
•CBS, IBM Corporation and Sears Roebuck and Company form videotex joint
venture (TRINTEX) to develop a commercial videotex service to households
with home computers.
Jackson's "Thriller" album, released in 1982, becomes biggest-selling
album of all time.
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.
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.
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).
Press, Inc. and TransMedica, Inc. (medical publishers) acquired.
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.
discontinues videodisc manufacturing in Carrollton, Georgia facility
following RCA announcement to discontinue videodisc player manufacturing.
magazine ceases publication; subscriber list sold to Conde Nast.
and Gerald D. Hines Interests form joint venture to develop property
adjacent to CBS Headquarters in New York.
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.
announces decision to sell the musical instruments properties.
•World Tennis magazine sold to Family Media Inc.
Week Sunday newspaper supplement sold to Gannett Company.
Turner presents his proposal to acquire CBS stock.
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.
acquires an interest in Winterland Productions, a corporation engaged
primarily in the design, printing and marketing of merchandise for the
music and entertainment industries.
repurchases 21 percent of outstanding common stock for $954.8 million
in cash and notes in major re-capitalization program.
Hawk Cable Communications sold to Sammons Communications.
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
disposes of interest in Tri-Star Pictures (motion picture production).
announces plans to sell its interest in the Digital Audio Disc Corporation's
Compact Disc facility in Terre Haute, Indiana.
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.
A. Tisch elected to CBS Board of Directors.
General Book unit (the trade book publishing arm of the CBS Educational
and Professional Publishing Division) sold to Verlagsgruppe Georg Von
•Praeger Publishers, a unit of CBS Educational and Professional
Publishing Division, sold to Greenwood Press, Inc.
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
Press, a unit of CBS Educational and Professional Publishing Division,
sold to Harper & Row Publishers, Inc.
Owned television station, KMOX-TV St. Louis, sold to Viacom International,
Quarterly, Leisure Time Electronics acquired.
announces intention of building compact disc manufacturing and mastering
facility at Pitman, New Jersey.
Springsteen's "Live/1975-85" multi-album set sells a record one million
units in its first day in stores.
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.
(a publisher and distributor of medical, dental, science, engineering,
business, economics and social science textbooks) sold to McGraw-Hill,
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.
Technology Center in Stamford, Connecticut ceases operation and technological
support functions transferred to operating groups.
withdraws from TRINTEX, the joint venture formed with IBM Corporation
and Sears, Roebuck and Co.
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
Radio launches syndicated programming service, CBS Radio Programs
•William S. Paley elected Chairman and Laurence A. Tisch elected
President and Chief Executive Officer of CBS Inc.
sells its interests in the various SportsChannel Partnerships to a subsidiary
of Cablevisions Systems Inc.
enters into an agreement to sell the business and assets of CBS Magazines
Division for $650,000,000.
signs definitive agreement to sell its CBS/Records Group to the Sony
Corporation for approximately $2 billion.
•CBS completes sale of its records operations to the Sony Corporation.
Group announces the formation of CBS Marketing Division and CBS Affiliate
Relations Division. (May)
acquires broadcast rights to 1992 Winter Olympic Games in Albertville,
France for $243 million. May)
F. Jankowski appointed Chairman, CBS/Broadcast Group. (July)
Stringer appointed President, CBS/Broadcast Group. (July)
Burke appointed President, CBS News Division. (July)
Widmann appointed President, CBS Radio (August)
agrees to acquire WCIX-TV, Miami, Florida. (August)
R. Tisch elected to CBS Board. (September)
acquires exclusive Network broadcast rights to Major League Baseball.
enters into definitive agreement to acquire radio stations WWJ and WJOI(FM),
Detroit, Michigan. (December)
•CBS completes acquisition of WCIX-TV, Miami, Florida for $59 million.
finalizes purchase of WWJ and WJOI(FM), Detroit, Michigan for $58 million.
acquires broadcast rights to 1994 Winter Olympic Games in Lillehammer,
Norway for $300 million. (August)
A. Kissinger elected to CBS Board. (September)
A. Warner named President of CBS Enterprises, a newly created Division
of the CBS/Broadcast Group. (November)
acquires seven-year exclusive television rights to NCAA basketball tournament.
Sagansky named President, CBS Entertainment. (December)
•CBS to sell WSUN(AM) Tampa to Cox Enterprises, Inc. (February)
signs four-year agreement for NFL Football broadcast rights (March)
Philadelphia changes call letters and format to become WOGL(AM). (August)
•Eric W. Ober named President, CBS News Division. (August)
Rodgers named President, CBS Television Stations Division. (September)
A. Lund named Executive Vice President, CBS/Broadcast Group and President,
CBS Marketing Division. (October)
S. Paley, Chairman of the Board and Founder of CBS Inc. dies. (October
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
concludes offer to purchase shares of its common stock. (January)
announces final results of offer to purchase shares of its common stock.
Inc and Twentieth Century Fox extend and restructure home video partnership.
Los Angeles becomes KCBS(FM) sharing strong identity with CBS and the
Oldies format. (July)
Oran Kadan named Vice President, General Counsel and Secretary, CBS
agrees to acquire television and radio stations from Midwest Communications,
Reasoner, a founding editor of 60 MINUTES, dies at 68. (August)
files $400 Million shelf registration to sell debt securities.
files S-4 registration statement to purchase assets of Midwest Communications,
announces its intention to sell KLOU(FM) in St. Louis. (November)
San Francisco and CBS Television Network announce early prime time in
San Francisco (December)
announces $50 million share repurchase program. (December)
•CBS and NARAS sign five-year agreement for CBS to continue broadcasting
the Grammy Awards. (January)
announces $150 million 10-year debt offering (January)
to redeem its convertible series A preference stock (January)
broadcasts Olympic Winter Games from Albertville, France. First
time Network has broadcast Olympics since 1960.
to purchase television production facilities from MTM Studios, Ltd.
Acquires Television Production Facilities from MTM Studios, Ltd.
ow owns entire MTM lot in Studio City. (March)
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.
Announces 7-Year and 30-Year Debt Offerings. (May)
Sevareid, distinguished CBS News Correspondent, dies at 79. (July
opens new state-of-the-art studios in Los Angeles, adjacent and linked
to CBS Television City Studios. (November)
•William B. Lodge, pioneer broadcaster with CBS, dies at 85. (January)
announces David Letterman will bring his acclaimed Late Night Show to
Salant, Former CBS News President, dies at 78. (February)
purchases Landmark Ed Sullivan Theater to house David Letterman show.
to redeem its 5% Convertible Debentures on May 4, 1993 and to file a
$450 Million Shelf Registration for Debt Securities. (March)
will remain headquartered in New York City for the next 15 years under
agreement with the City and State. (March)
wins 1992-93 Primetime Season for second year in a row. (April)
CBS Owned Television Stations will opt for "Retranmsission Consent"
rather than "Must Carry". (May)
Chung to Join Dan Rather as Co-Anchor of the CBS EVENING NEWS, beginning
June 1. (May)
introduces the Advance Parental Advisory Plan, a Four Network Proposal
for a two-year test to identify programs containing violence. (June)
Inc. and Viacom International Inc. settle longstanding lawsuit regarding
proceeds from distribution of programs like "Honeymooners", "I Love
Lucy", "Twilight Zone". (July)
Radio and Cox Enterprises agree to exchange assets in Tampa and Dallas.
Premieres LATE SHOW with DAVID LETTERMAN. (August)
Announces Record-Setting Third-Quarter Earnings. (October)
Announces Offering of $100 Million of 7 1/8% Senior Debt Notes due 2023.
and VCR Plus+ to Provide Spot Advertisers with new method for presenting
long-form sales messages. (November)
Inc. and Cox Enterprises, Inc. Complete Exchange of Radio Stations.
News, The New York Times Company and Apple Computer, Inc. announce interactive
CD-Rom software encyclopedia on Vietnam War. (December)
loses rights to NFL for 4 years to FOX Broadcasting. (December)
•Martin D. Franks is appointed Senior Vice President, CBS Inc. (January)
Announces Record-Setting Earnings for 1993. (February)
Sports and the Southeastern and Big East Conferences Agree to Multi-Year
Television Contracts. (February)
has largest margin of victory ever in a sweep rating period (February
CBS coverage of 1994 Winter Olympic Games was most watched single television
event in history. (March)
A. Lund named President, CBS Television Network. (March)
Harrington promoted to Senior Vice President, New Media, CBS Inc. (March)
Announces Record-Setting First-Quarter Earnings. (April)
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)
Kenin named President, CBS Sports. (April)
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
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.
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.
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.
WGPR-TV Detroit (Channel 62) goes on line with CBS programming on Dec.
• 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,
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.
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.
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).