Thursday, February 16, 2017
Moonves Hopes FCC Raises Ownership Cap
“If [the cap is] lifted, we’d want to buy more stations,” CBS Chief Executive Moonves told analysts on a conference call on Wednesday afternoon. “Through retransmission and political ads, the local markets are extremely good for us.
“We’d be very interested in the cap moving up,” Moonves added.
Current rules cap TV station ownership at two per market and overall ownership can’t reach more than 39 percent of US households.
The NY Post reports, the CBS boss made the comments during a fourth-quarter earnings call in which the Viacom-owned broadcaster reported profit that hit forecasts but it missed on the revenue side.
Posted 4:09:00 AM