Saturday, July 15, 2017

Moonves: CBS Has No Plans For Acquisitions, But...

CBS CEO Les Moonves thinks the broadcaster is doing fine on its own and sees no need to pursue any M&A, reports FierceCable.

Moonves was in attendance for last week’s Allen & Co. conference in Sun Valley, and from there he told Fox Business Network that he “has no plans to make a move for another company.”

Amid the expected media consolidation wave that could emit from the AT&T-Time Warner $85 billion mega-merger, CBS has been eyed as both a buyer and a seller in various reports.

Verizon, having just shot down rumors it was considering a bid for Disney, has been spied as a potential suitor for CBS. Late last year, The Street predicted CBS could make a move for AMC Networks in order to broaden its cable network portfolio.

Moonves told CNBC   said that while his company isn’t in the market for any deals at the moment, CNN intrigues him, and that he would take a long, hard look at the cable newser if it were to come up for sale.

“CNN is a very worthy news organization… it’s something that could enhance CBS,” said Moonves. “But I don’t think that’s on the table right now. If it came up later on, it would be something we would look at.”

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