CBS announced at the CES show that it has a number of internet partnership deals in the works. CEO Leslie Moonves tried to communicate to the tech audience that CBS aims to be a leader in web/TV synergy. Moonves mentioned a number of the company's 2007 web plans including a "virtual skybox" for NCAA fans to discuss games in progress, Star Trek placement in the "Second Life" online game and increasing downloading and interactivity capabilities for the company's TV programs. Moonves also mentioned partnerships with YouTube and Sling Media. Analysts suggest that CBS' declining ratings, including a 24% drop in young adult viewers on Thursday nights, could be responsible for this push onto the internet. However, the web strategy depends on strong TV programming. Moonves denies a connection between the two issues. Wall Street approves of the company's new aggressive moves onto the internet.
• Sources: Press Release, WSJ, AP
• Related commentary: CBS Taps Quincy Smith For Interactive Presidency, Media Giants to Form YouTube Rival, CBS's Operating Revenues Rise 26%, Nielson/NetRatings: TV Broadcasters Should Put Content On Web Conference call transcripts: CBS Q3 2006 Earnings
• Potentially impacted stocks and ETFs: CBS Corp. (NYSE:CBS) Competitors: Viacom (NASDAQ:VIA), Clear Channel Communications (NYSE:CCU), Walt Disney Company (NYSE:DIS), General Electric (NYSE:GE), Comcast (NASDAQ:CMCSA)
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