Since acquiring the television network, Westinghouse has reinvented
itself as CBS Group and is continuing to divest its power-generating
businesses - so far raising dollars 5.7 billion - as it restructures as
a media-only company. The group now makes a marginal operating profit
but the CBS network has been running at a loss in recent years. During
1997 group revenues were dollars 5.4 billion. Losses on the network were
dollars 107 million on revenues of dollars 2.8 billion.
US NETWORK TELEVISION
CBS owns the network and a total of 14 individual local stations. Other
television divisions include CBS Enterprises, CBS Entertainment, CBS
News and CBS Sports
CABLE TELEVISION
Country Music Television, the Nashville Network, Eye on People (50 per
cent joint venture with Discovery Communications), Midwest Sports
Channel, Home Team Sports, 30 per cent stake in CBS TeleNoticias
RADIO
Infinity Media, America’s largest radio owner with a total of 170
stations. CBS plans to float Infinity as a separately listed company,
retaining 80 per cent of the equity. CBS also has a 25 per cent stake in
Westwood One, a producer and distributor of radio programming across the
US
OUTDOOR
TDI Worldwide
_1.jpg)
.jpg)
