CBS Names McManus News Chief
Viacom's (VIA - Get Report) CBS named its head of sports, Sean McManus, to its top news position.
He'll replace Andrew Heyward, whose contract won't be renewed at year's end.
The appointment is effective Nov. 7. Heyward, who has held the post of president of CBS News for almost 10 years, will serve as an adviser to the CBS News division and assist McManus in the transition.
CBS News came under heavy criticism last fall for running a story taking issue with President Bush's National Guard service in the early 1970s. After mounting a vigorous early defense of the story and its sourcing, anchor Dan Rather and CBS conceded that they couldn't confirm the authenticity of documents cited in the report.
The furor started with the Sept. 8, 2004, "60 Minutes" broadcast. After initially brushing off questions about the segment, CBS in mid-September started an investigation into the matter and said it would seek to get to the bottom of the dispute. "Based on what we now know, CBS News cannot prove that the documents are authentic, which is the only acceptable journalistic standard to justify using them in the report," Heyward said Sept. 20. "We should not have used them. That was a mistake, which we deeply regret." Rather, who reported the story, issued an apology. "We made a mistake in judgment, and for that I am sorry," he said in September. "It was an error that was made, however, in good faith and in the spirit of trying to carry on a CBS News tradition of investigative reporting without fear or favoritism." Heyward was spared the brunt of the ordeal last year, with CBS Chairman Les Moonves standing firmly beside him, but Rather soon announced his own retirement and a number of producers associated with the piece departed as well.Check Out Our Best Services for Investors
Action Alerts PLUS
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Quant Ratings
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Stocks Under $10
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Dividend Stock Advisor
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Product Features:
- Model Portfolio
- Intra Day Trade alerts
- Access to Quant Ratings
Options Profits
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- Actionable options commentary and news
- Real-time trading community

