Key Developments: CBS Corp (CBS)

CBS on New York Consolidated

4 Mar 2015
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Latest Key Developments (Source: Significant Developments)

CBS Corp announces quarterly dividend
Friday, 30 Jan 2015 09:00am EST 

CBS Corp:Approves a quarterly dividend on the company's stock of $.15 per share.Payable on April 1, to shareholders of record on March 11.  Full Article

CBS Corporation announces $1.2 billion senior notes offering
Wednesday, 7 Jan 2015 03:40pm EST 

CBS Corporation:Says pricing of a debt offering of $600 mln of 3.50 pct senior notes due 2025 and $600 mln of 4.60 pct senior notes due 2045.Intends to use the net proceeds for general corporate purposes, including among other things, the repurchase of shares of CBS's outstanding common stock pursuant to the Company's authorized share repurchase program and the repayment of short-term borrowings, including commercial paper.Joint book managers for the offering are Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC.  Full Article

CBS Corp approves quarterly dividend
Tuesday, 25 Nov 2014 11:34am EST 

CBS Corp:Approves quarterly dividend on company's stock of $.15 per share.Dividend is payable on Jan. 1, 2015.Dividend to shareholders of record on Dec. 11.  Full Article

CBS Corp and Media General sign deal to renew all affiliation agreements
Monday, 15 Sep 2014 09:00am EDT 

CBS Corp:CBS Corporation and Media General, Inc. announces comprehensive deal that renews all of Media General's existing station affiliation agreements.The agreement includes renewals for following Media General affiliates: WRBL in Columbus, Ga.; WBTW in Florence, S.C.; WNCT in Greenville, N.C.; WHLT in Hattiesburg, Miss.; WJTV in Jackson, Miss.; WJHL-TV in Johnson City, Tenn.;.It also includes KLFY in Lafayette, La.; WLNS-TV in Lansing, Mich.; WKRG-TV in Mobile, Ala.; KELO in Sioux Falls, S.D; KCLO in Rapid City, S.D.; and WSPA-TV in Spartanburg, S.C.  Full Article

CBS Corp sign affiliation deal renewing all gray stations nationwide
Monday, 25 Aug 2014 08:30am EDT 

CBS Corp and Gray Television:Says comprehensive, long-term agreement that renews all 26 of Gray's existing station affiliation agreements, which includes 22 markets nationwide.  Full Article

CBS Corp announces quarterly dividend
Thursday, 7 Aug 2014 04:01pm EDT 

CBS Corp:Announced an increase to its quarterly dividend from $.12 per share to $.15 per share.Payable on Oct. 1, to shareholders of record on Sept. 10.  Full Article

CBS Corp launches split-off of CBS Outdoor Americas Inc
Wednesday, 11 Jun 2014 07:00am EDT 

CBS Corp:Plans to fully divest its 81 pct ownership in CBS Outdoor Americas Inc. through exchange offer that is expected to be tax-free for participating shareholders in the U.S.Exchange offer is anticipated to be final step in separation of CBS Outdoor following its initial public offering in April.Upon split-off, CBS Outdoor intends to convert into a real estate investment trust.  Full Article

CBS Corp announces quarterly dividend
Thursday, 22 May 2014 03:40pm EDT 

CBS Corp:Approves a quarterly dividend of $.12 per share.Payable on July 1, to shareholders of record on June 10.  Full Article

CBS Corporation's CBS Outdoor Americas Inc launches IPO roadshow
Monday, 17 Mar 2014 07:09am EDT 

CBS Outdoor Americas Inc:Launched road show for initial public offering.CBSO is offering 20 mln shares of common stock, and underwriters will have a 30-day option to buy additional three million shares.IPO price is expected to be between $26 and $28 per share, and shares are expected to trade on the New York Stock Exchange under the symbol 'CBSO.CBS Corporation will own about 83 pct of CBSO (or about 81 pct of outstanding stock of CBSO if underwriters exercise their option to purchase additional shares in full).CBSO plans to convert into real estate investment trust (REIT) later this year, following CBS's divestiture of its shares through tax-free split-off.CBSO expects to use net proceeds from the IPO as partial consideration to CBS for the contribution of outdoor business entities as well as cash portion of distribution to shareholders required in connection with conversion to REIT.Goldman, Sachs & Co., BofA Merrill Lynch, J.P. Morgan, and Morgan Stanley are acting as joint book-running managers, and Citigroup, Deutsche Bank Securities, and Wells Fargo Securities are acting as book runners.  Full Article

CBS Corp announces plans for $1.5 bln accelerated share repurchase
Wednesday, 12 Feb 2014 04:00pm EST 

CBS Corp:Says it plans to initiate an accelerated share repurchase of $1.5 bln of its Class B common stock during the first quarter of 2014.Says the company plans to step up the pace of its open market share repurchases.Says it plans to use a total of $2 bln of its share buyback program during the first quarter.  Full Article

Fitch Publishes Rating Navigators for U.S. Diversified Media Companies

(The following statement was released by the rating agency) NEW YORK, February 27 (Fitch) Fitch Ratings has published its new Rating Navigators for the following North American diversified Media companies: --CBS Corporation --Cox Enterprises, Inc. --Discovery Communications LLC --NBCUniversal Media LLC --Time Warner Inc. --Twenty-First Century Fox, Inc. --Viacom, Inc. --The Walt Disney Company, Inc. These Rating Navigators should be read in tandem with its companion report entitled 'Media: R

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