Moonves boosts CBS, dismisses merger talk again; shares rise
Mar 2 2015, 20:23 ET | About: CBS Corporation (CBS) | By: Jason Aycock, SA News Editor
Les Moonves said on CNBC last month that CBS was "very happy being alone," and the CEO doubled down on that talk at the Morgan Stanley Technology, Media and Telecom conference.
Moonves says his COO tells him that CBS will be a $100 stock in four years, so buyers or merger partners like Time Warner (NYSE:TWX) or Viacom (VIA, VIAB) would have to pay "a very high price." CBS shares gained 4.5% Monday to close at $61.75.
He also expressed little concern about smaller cable bundles or any lack of negotiating power by eschewing a merger, saying CBS will be in every bundle. "People can't live without CBS ... We like the hand we're playing."
The company faces new negotiations with DirecTV (NASDAQ
TV) and Cablevision (NYSE:CVC) at the end of the year.
Previously: AMC Networks finally looking for a deal? (Feb. 25 2015) http://seekingalpha.com/news/2327176-amc-networks-finally-looking-for-a-deal
Previously: Cumulus higher in late trade as CBS M&A chatter flies (Feb. 24 2015) http://seekingalpha.com/news/2322836-cumulus-higher-in-late-trade-as-cbs-m-and-a-chatter-flies
http://seekingalpha.com/news/234036...o:f666ecce2c72bd5811f2d94df985dd60#email_link If in wrong section please move and I apologize!!
Mar 2 2015, 20:23 ET | About: CBS Corporation (CBS) | By: Jason Aycock, SA News Editor
Les Moonves said on CNBC last month that CBS was "very happy being alone," and the CEO doubled down on that talk at the Morgan Stanley Technology, Media and Telecom conference.
Moonves says his COO tells him that CBS will be a $100 stock in four years, so buyers or merger partners like Time Warner (NYSE:TWX) or Viacom (VIA, VIAB) would have to pay "a very high price." CBS shares gained 4.5% Monday to close at $61.75.
He also expressed little concern about smaller cable bundles or any lack of negotiating power by eschewing a merger, saying CBS will be in every bundle. "People can't live without CBS ... We like the hand we're playing."
The company faces new negotiations with DirecTV (NASDAQ
TV) and Cablevision (NYSE:CVC) at the end of the year.Previously: AMC Networks finally looking for a deal? (Feb. 25 2015) http://seekingalpha.com/news/2327176-amc-networks-finally-looking-for-a-deal
Previously: Cumulus higher in late trade as CBS M&A chatter flies (Feb. 24 2015) http://seekingalpha.com/news/2322836-cumulus-higher-in-late-trade-as-cbs-m-and-a-chatter-flies
http://seekingalpha.com/news/234036...o:f666ecce2c72bd5811f2d94df985dd60#email_link If in wrong section please move and I apologize!!
