Thursday, October 28, 2010

Future CNN/CBS Merger "Doesn't Look Good"

CBS President and CEO Leslie Moonves has shot down a possible future CNN/CBS merger (for now, at least) at the 3rd Annual OnScreen Media Summit, writes Ben Grossman.

"Right now, it doesn't look good," he said at the 2010 Broadcasting & Cable/Multichannel News OnScreen Media Summit at the Marriott Marquis in New York.

Moonves acknowledged he has discussed different arrangements with CNN parent Time Warner, but there have been too many deal points that the sides haven't been able to sort out."It's no secret we've had conversations," he said. "The structure is very different, it's hard to cross over in a meaningful way, they are based in Atlanta, we are in New York. They are non union, we are a union shop, it's a tough nut to crack. We tried ten years ago and we tried last year, it's just been a difficult thing. It's hard to make a joint venture with a division of the company. It's hard from a content point of view, who's in charge, who's making the last decision, there are a lot of little points, it's not just we'll share Anderson Cooper and Katie Couric."



Anonymous Anonymous said...

Arik Katzenberg stopped this CNN/CBS merger so he can merge ABC News Division with CNN under Time Warner with a 13% remainder interest for The Walt Disney Company

1:49 AM  

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