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CBS ( CBS) owns a bevy of media assets, ranging from the firm's eponymous television network to Showtime, the CBS Outdoor advertising business, and Simon & Schuster. That diversification provides some big advantages for CBS -- namely a slew of content that it can share across different businesses.

That said, hefty exposure to advertising and entertainment spending means that CBS' whole business ebbs and flows as one; true sales diversification isn't there.

CBS enjoys special positioning in the entertainment industry. The network and TV studio lay claim to some of the most popular shows on network television, positioning that's crucial for the firm to take advantage of ramped up ad spending. New digital billboards are prompting big changes in the outdoor advertising segment, offering CBS the ability to change ads in an instant and better target ad spending opportunities throughout the day.

Ultimately, CBS is an old business that continues to generate significant cash. Management will need to keep pushing cost reductions and continue to search out growth opportunities if they want to keep investors tuning in.

With rising analyst sentiment in shares this week, we're betting on CBS.

CBS, one of David Einhorn's Greenlight Capital holdings, shows up on recent lists of 8 Move Moguls' Stocks That Should Get Top Billing and 12 Highest-Rated Consumer Stocks Picks by S&P.

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