In tandem with its Q4 report, CBS announced it plans to buy back $1B worth of shares in 2013,...

|About: CBS Corporation (CBS)|By:, SA News Editor

In tandem with its Q4 report, CBS announced it plans to buy back $1B worth of shares in 2013, thereby nearly doubling its repurchase commitment for the year. The TV network/studio owner repurchased $299M worth of shares in Q4, and had $2.51B remaining on its authorization at year's end. On the earnings call, CEO Les Moonves said CBS is talking with Intel (INTC) about a programming deal related to Intel's upcoming Web-based TV service. (CBS Q4: I, II)