CBS News is giving cable TV the slip by focusing on broadband delivery of its content.
division said plans are afoot for a major expansion of CBSNews.com. The 24-hour, multiplatform digital news network will bypass cable television "in favor of the nation's fastest-growing distribution system -- broadband," according to the company.
The move is designed to allow CBS News to move nimbly across various platforms both new and old. The new CBS News will emphasize its on-demand capacity, broadband video and an integration of its operations from their traditional TV and radio base.
The company projects that homes connected to broadband will equal or surpass cable and satellite homes by the end of this decade. "During that time, the broadband delivery system will dramatically improve, resulting in a viewing experience equal to television," CBS said. "Furthermore, use of broadband connections during working hours -- when most top stories take place -- significantly outweighs that of cable and satellite."
But wait, there's more. "This represents a significant shift for CBS News," said CBS News President Andrew Heyward. "We are redefining the mission of CBS News and the people who work here to meet the demands of a 24-hour digital universe."
Viacom rose a penny Tuesday to $32.67.