CBS Not Buying CNN, Says CEO Moonves
CBS CEO Les Moonves emphatically denied Thursday the network is in talks to acquire CNN. Rumors of such a deal are "real fake news," he said at an Economic Club luncheon, saying he hasn't talked with executives at CNN or…
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parent Time Warner. A TW spinoff of CNN was speculated as part of AT&T's bid for the cable network (see 1701130018). TW didn't comment. Moonves said a programming talent war is growing with streaming services' original content and with tech companies getting increasingly into the TV space. He said CBS' competitive niche is in programming expertise and its broadcast assets' mass audience. With the growth of skinny programming bundles, CBS's strategy is to always be part of those skinnier bundles alongside its CBS All Access direct-to-consumer streaming service, he said. He also predicted a rebound in NFL ratings this season, chalking up last year's 8 percent ratings decline to more interest in presidential election coverage and anemic Thursday night game matchups. Meanwhile, DOJ may soon OK AT&T/TW, reported the Los Angeles Times earlier that day. DOJ didn't comment.