NEW YORK (TheStreet) --Shares of CBS Corp. (CBS) are higher by 1.16% to $58.31 in mid-afternoon trading on Thursday, one day after the mass media company and Time Warner Inc. (TWX) said they were considering making the HBO and Showtime networks available to consumers online without a cable TV subscription, Reuters reports.
The CEOs of both companies spoke separately at the Goldman Sachs Group (GS) Communacopia Conference and eluded to the possibility viewers will be able to stream cable TV through broadband, due to increased pressure from competing services like Netflix (NFLX) , Reuters added.
No specifics as to when the streaming service might become a reality where given but Reuters noted CBS CEO Leslie Moonves as saying: "Is there some time in the future that could happen? Absolutely."STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Shares of Time Warner Inc. are higher by 1.15% to $76.80.
Separately, TheStreet Ratings team rates CBS CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CBS CORP (CBS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels, growth in earnings per share, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."