real-time news and commentary for investors
Thursday, Aug 22
CBS rallies as Moonves vents
- Shares of CBS (CBS +4.2%) shoot higher after it signs a carriage deal with Verizon.
- CEO Les Moonves told his employees earlier today in a memo that the company offered Time Warner Cable almost exactly the same deal without the same result.
- Moonves on the progress of negotiations: "I cannot describe to you the frustration I feel at the way these negotiations have gone."
- The timing of the deal and Moonves' far-from-calming rhetoric could help Verizon (VZ -0.3%) in blackout affected markets such as New York, Dallas, and L.A.