Profile: CBS Corp (CBS)
21 Oct 2016
CBS Corporation, incorporated on November 10, 1986, is a mass media company. The Company operates through segments, including Entertainment, Cable Networks, Publishing and Local Broadcasting. The Company operates businesses, which span the media and entertainment industries, including the CBS Television Network, cable networks, content production and distribution, television and radio stations, Internet-based businesses, and consumer publishing.
The Company’s Entertainment segment consists of the CBS Television Network; CBS Television Studios and CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution), the Company’s television production and syndication operations; CBS Interactive, the Company’s online content networks for information and entertainment, and CBS Films, the Company’s producer and distributor of theatrical motion pictures. The CBS Television Network through CBS Entertainment, CBS News and CBS Sports distributes a schedule of news and public affairs broadcasts, sports and entertainment programming to more than 200 domestic affiliates reaching throughout the United States, including 16 of the Company’s owned and operated television stations.
CBS Entertainment is engaged in acquiring or developing and scheduling the entertainment programming presented on the CBS Television Network, which includes primetime comedy and drama series, reality based programming, specials, children’s programs, daytime dramas, game shows and late-night programs. CBS News operates a worldwide news organization, providing the CBS Television Network and the CBS Radio Network with regularly scheduled news and public affairs broadcasts, including 60 Minutes, 48 Hours Mystery, CBS Evening News with Scott Pelley, CBS This Morning, CBS Sunday Morning and Face the Nation, as well as special reports. CBS News also provides CBS Newspath, a television news syndication service that offers daily news coverage, sports highlights and news features to the CBS Television Network affiliates and other subscribers worldwide. CBS Sports broadcasts include The National Football League (NFL) Today, certain games from the NCAA Division I Men’s Basketball Tournament, the PGA Golf Tour, Masters Tournament and PGA Championship, regular-season college football and basketball games on network television, in addition to the NFL’s American Football Conference (AFC) regular-season, post-season divisional playoff and championship games. CBS Television Network content also is exhibited via the Internet, including through CBS.com, CBS All Access, a digital subscription streaming service and CBSN, a live streaming digital advertiser-supported news network available 24 hours a day, seven days a week.
CBS Television Studios and CBS Global Distribution Group produce, acquire and distribute programming worldwide, including series, specials, news and public affairs, and generate revenue principally from the licensing and distribution of such programming. The programming is produced primarily for broadcast on network television, exhibition on basic cable and subscription services or distribution via first-run syndication. CBS Interactive is global publishers of content on the Internet. CBS Interactive’s brands, including CNET, CBS.com, CBSSports.com, GameSpot, TVGuide.com, TV.com, CBSNews.com, ZDNet, Last.fm, and MetroLyrics.com, among others, serve targeted audiences with text, video, audio, and mobile content spanning technology, entertainment, sports, news, business, gaming and music categories. In addition to its United States-based business, CBS Interactive operates in Asia, Australia and Europe. CBS Films produces, acquires and distributes theatrical motion pictures across all genres.
The Company’s Cable Networks segment is composed of Showtime Networks, which operates the Company’s subscription program services; CBS Sports Network, the Company’s cable network focused on college athletics and other sports, and Smithsonian Networks, a venture with Smithsonian Institution, which operates Smithsonian Channel. Showtime Networks owns and operates three subscription program services in the United States: Showtime, offering original series, theatrical feature films, documentaries, boxing and other sports-related programming, and special events; The Movie Channel, offering theatrical feature films and related programming, and Flix, offering theatrical feature films. Showtime Networks owns and operates multiplexed channels of Showtime and The Movie Channel in the United States, which offer additional and varied programming choices. Showtime Networks also makes available Showtime Anytime, an authenticated version of Showtime, which can be accessed on computers via showtimeanytime.com or via certain Internet-connected devices through a Showtime Anytime app to Showtime subscribers. Showtime Networks’ original series includes Homeland, Ray Donovan, House of Lies and Episodes, among others.
Showtime Networks owns a majority of and manages Smithsonian Networks, a venture with Smithsonian Institution, which operates Smithsonian Channel, a basic cable service in the United States, featuring programs of a cultural, historical, scientific and educational nature. Smithsonian Networks offers a companion on demand version, makes Smithsonian Channel content available on an authenticated basis to certain distributors in the United States and licenses Smithsonian Channel content outside of the United States, including to Blue Ant Television Ltd. in connection with Smithsonian Channel in Canada. Smithsonian Networks also operates the Website SmithsonianChannel.com and various apps, which promote Smithsonian Channel programming and provide information and entertainment services.
CBS Sports Network is an around the clock cable program service that provides sports and related content, with a focus on college sports. The network televises over 580 live professional, amateur, semi-professional and collegiate events annually, highlighted by Division I college football, basketball, hockey and lacrosse, as well as professional bull riding (PBR), professional lacrosse (MLL), arena football (AFL) and various styles of motor sports events. In addition, the network showcases a variety of original programming, including documentaries, features and , studio shows, highlighted by That Other Pre-Game Show (TOPS), NFL Monday QB, Inside College Basketball, Inside College Football, and a show featuring an all-female panel, We Need to Talk. CBS Sports Network also provides ancillary coverage for CBS Sports relating to events such as the National Collegiate Athletic Association (NCAA) Division I Men’s Basketball Tournament, Masters Tournament and PGA Championship, and for Showtime Networks relating to Showtime Championship Boxing. CBS Sports Network produces weekday simulcasts of the radio shows Boomer and Carton and The Doug Gottlieb Show. CBS Sports Network televises additional programming under the CBS Sports Spectacular brand, including mixed martial arts, skiing, bowling, horse racing, volleyball, cheerleading and skate boarding, among other events.
The Company’s Publishing segment consists of Simon & Schuster, which publishes and distributes adult and children’s consumer books in the United States and internationally. Simon & Schuster’s adult imprints include Simon & Schuster, Pocket Books, Scribner, Atria Books, Gallery Books, Touchstone, Threshold Editions and Howard Books. Simon & Schuster’s children’s imprints include Simon Pulse, Aladdin, Atheneum Books for Young Readers and Simon & Schuster Books For Young Readers. Simon & Schuster also develops special imprints and publishes titles based on the products of certain CBS businesses, as well as that of third parties and distributes products for other publishers. Simon & Schuster distributes its products directly and through third parties. Simon & Schuster also delivers content and promotes its products on its own Websites, general Internet sites, as well as those linked to individual titles. Its created assets include online videos showcasing Simon & Schuster authors and new releases on YouTube, iTunes, Blinkx, AOL, SimonandSchuster.com and other sites, as well as online video courses led by authors made available for sale to consumers. International publishing includes the international distribution of English-language titles through Simon & Schuster UK, Simon & Schuster Canada, Simon & Schuster Australia, Simon & Schuster India and other distributors, as well as the publication of local titles by Simon & Schuster Canada, Simon & Schuster UK and Simon & Schuster Australia.
The Company’s Local Broadcasting segment is composed of CBS Television Stations, the Company’s 30 owned broadcast television stations, and CBS Radio, through which the Company owns and operates 117 radio stations in 26 United States markets and related online properties. The Company operates local Websites in United States markets, including New York, Los Angeles, Chicago, San Francisco and Dallas, which combine the Company’s television and radio local media brands online to provide the latest news, traffic, weather, and sports information, as well as local discounts, directories and reviews to serve the local community. The Company owns multiple television stations within the same designated market area (DMA) in 10 markets. These multiple station markets are: New York, Los Angeles, Philadelphia, Dallas-Fort Worth, San Francisco-Oakland-San Jose, Boston, Detroit, Miami-Ft. Lauderdale, Sacramento-Stockton-Modesto, and Pittsburgh. The stations produce news and broadcast public affairs, sports and other programming to serve their local markets and offer CBS, The CW or MyNetworkTV programming and syndicated programming. The Company’s radio broadcasting business operates through CBS Radio, an operator of radio stations in the United States.
The Company competes with ABC, FOX, NBC, The CW, MyNetworkTV, NBCUniversal, Sony, AOL, MSN, Yahoo!, Google, Bing, Amazon.com, Hulu, HBO GO, ESPN.com, Paramount Pictures Corporation, Warner Bros. Entertainment Inc., Lions Gate Entertainment, The Weinstein Company, Relativity Media, Metro-Goldwyn-Mayer Studios Inc., Lakeshore Entertainment Group, Home Box Office, Inc., Starz, LLC., Netflix, Discovery Channel, National Geographic Channel, History, Penguin Random House, Hachette, Harper Collins, Cumulus Media Inc., Emmis Communications Corporation, Entercom Communications Corp, iHeartMedia, Inc., Radio One, Inc., Pandora, Spotify Rhapsody, Sirius XM Holdings Inc, The Walt Disney Company, NBCUniversal Media, LLC, Twenty-First Century Fox, Inc. and Time Warner Inc.
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