CBS Corporation has reached a settlement agreement with National Amusements, members of the CBS Board of Directors, and related parties, that results in the departure of chairman and CEO Les Moonves and the settlement of disputes about control of the company.
Speaking to investors, CBS CEO Leslie Moonves said the company continued to “surpass expectations” for its digital subscriber base.
CBS plans to launch CBSN Local, a portfolio of 24/7 direct-to-consumer services that will stream anchored news coverage and live breaking news events from major markets served by CBS stations.
CBS has raised the stakes in its ongoing power struggle with the Redstone family as it tries to prevent a forced merger with Viacom.
Last year, the two CBS OTT services reached almost five million subscribers, reaching the target originally set for 2020.
Viacom and CBS are to explore the possibility of becoming a single business.
CBS Corporation will acquire troubled Network Ten, one of three major commercial broadcast networks in Australia, and will launch CBS All Access in the country.
UK channels Channels CBS Reality, CBS Action, CBS Drama and Horror Channel have reached record audiences.
Viacom’s board of directors has ruled out a potential merger with CBS following receipt of National Amusements’ letter and request, and dissolved the special committee that was formed to evaluate a potential transaction.
Netflix and CBS Studios International have signed ab international licensing agreement for the new Star Trek television series.