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CBS Corporation Announces New Five-Year Agreement With President And Chief Executive Officer Leslie Moonves

Moonves came to CBS in 1995 as President of Entertainment.  He and his team proceeded to take the Network from last to first place in the ratings, where it has remained #1 for nine out of the last ten years. Moonves was promoted to President and CEO of CBS Television in 1998, became its Chairman in 2003, and was later named Co-President and Co-Chief Operating Officer of Viacom and Chairman of CBS in 2004. In 2006, when Viacom split its businesses into two publicly traded companies, Moonves was named President and CEO of the newly formed CBS Corporation.

Since that time, Moonves has led the way as CBS has capitalized on a number of developing growth opportunities including retransmission consent fees, international syndication sales and the licensing of the Company's content for digital streaming.  These and other initiatives have helped CBS become the best-performing media stock in each of the last three years.

For more information regarding the agreement, please see the Company's Form 8-K to be filed with the Securities and Exchange Commission, which further describes the employment agreement.

SOURCE CBS Corporation

Stock quotes in this article: CBS, CBS.A 
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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