Gawker: valleywag, les moonves

CBS head honcho Les Moonves wants those newspaper ad dollars

Jackson West — Tue, 23 Sep 2008 17:40:00 EDT

CBS CEO Les Moonves pontificated at the Mixx conference in New York today, saying that he loves the Internet, really. Departing from the party line of other networks, Moonves pointed out "The Internet is not cannabalistic; it is only additive," presumably referring to audience attention share between television and the Web. So how's CBS going to capitalize? The plan is go after what's left of the newspaper industries advertising with CNet and local affiliates. [MediaWeek] (Photo from Andrew Mager)

Can CNET Possibly Become Cool?

Hamilton Nolan — Mon, 08 Sep 2008 13:09:46 EDT

CBS bought CNET, the tech-focused online conglomerate, for $1.8 billion earlier this year. Which prompted the general reaction "Really, that much?" And also, "Isn't this two fundamentally boring brands combining to form a larger, still boring brand?" Well one brave man says no, it's much more promising than that: CBS CEO Les Moonves, who engineered the deal! But is he right? It's hard to see why he would be:

Moonves is counting on CNET to raise CBS' revenue by two points within three years, which would mean that its online growth would have to offset the "flattening out" of CBS' own TV and radio ad revenue. But CNET is basically a tech news brand, and a pretty unexciting one. CBS is a general interest brand, and an unexciting one. So why try to make CNET another unexciting, general-interest brand?

Watching Moonves at a meeting of CNET executives, it's hard to miss the CEO's competitive spirit. The key, he says, is to boost traffic at CNET's dozen or so Web sites, which include video gamer site Gamespot.com, the all-things-television TV.com, and food site Chow.com. Katie Couric was on CNET streaming special shows from the convention. Chow.com's photogenic food editor Aida Mollenkamp is headed to a guest spot on Rachael Ray's show, which CBS syndicates, while CNET reporters are expected to populate every segment possible on its news shows.

It's going to take more than corporate synergy, though. For example, Moonves says TV.com is bound to be "the destination for online TV viewing" once it has shows from all the networks. Eh. It has a good name, but it doesn't even have CBS shows yet.

The basic problem: CBS itself has an increasingly old audience. They're counting on CNET to bring in the young audience. But CNET isn't cool. And if Les Moonves is the man who has to make it cool, its chances are less than average.

[BW; pic from Valleywag]

CBS wants 50 percent revenue growth from digital in three years

Jackson West — Thu, 31 Jul 2008 18:20:00 EDT

In a conference call to discuss CBS's quarterly results, CEO Les Moonves pointed to the recently announced selloff of radio stations and acquisition of CNET as an effort to jumpstart growth. Profits for the quarter were up a measly 1 percent, and the stock price was down slightly on the news. Moonves is looking for the CBS Interactive division to grow its annual revenue to $1 billion in three years.

That's presuming online ad industry growth matches expectations despite a larger economic downturn, which Moonves assures us all it certainly will. In fact, the 50 percent target is modest; it translates to 14.5 percent a year. Which means Moonves is assuming that CBS Interactive will underperform the online-advertising market, which is expected to grow 20 percent a year or more. (Photo by Getty/Vince Bucci)

CBS, meet your new anchorwoman

Owen Thomas — Thu, 29 May 2008 14:40:00 EDT

CNET TV personality Natali Del Conte has recorded outtakes from her Loaded Web-video show. The highlight: Del Conte's reinterpretation of Flashdance. This makes us think of an obvious synergy play, now that CBS is buying CNET. CNET hired Del Conte and moved her to New York specifically to get her airtime talking about gadgets on the major broadcast networks. CBS, last I checked, is a major broadcast network. If CBS is serious about reversing its news division's aging demographics, CBS should move Loaded from the Web to primetime. Heck, Katie Couric's not doing so well in the anchor seat. Les Moonves, why not give Natali a spin?

Moonves declares CNET new CBS Interactive headquarters

Jackson West — Tue, 20 May 2008 16:40:00 EDT

In an address to employees after a tour of the CNET building in SoMa, CBS chairman Leslie Moonves proclaimed, "CNET is CBS Interactive's worldwide headquarters." It might have been meant to stoke employees on the deal. But it could just as well remind workers who just went through a round of layoffs that they now face redundancy with CBS's own online publishing teams.

Reporters can take some solace in comments by CNET CFO Zander Lurie to analyst Imran Kahn dismissing the threat from tech blogs ("we do a lot of the things that the aforementioned bloggers don't do") and promoting original content ("You have to have (the) in-house editorial staff"). But will the San Francisco-based company even keep the name CNET? "At this time we don't know," says the employee FAQ. Just in case, save up that CNET schwag: Selling it on eBay could be a way to supplement severance packages. (Photo by Adam Buchen)

CBS CEO Les Moonves to visit CNET next Tuesday

Owen Thomas — Fri, 16 May 2008 18:40:00 EDT

After buying CNET for $1.8 billion, CBS CEO Les Moonves is getting around to inspecting his new property next Tuesday, we hear. Moonves is visiting CNET's San Francisco headquarters to address the troops. So far, beaten-down CNETters, weary of the fight with hedge fund Jana Partners, seem mostly supine in CBS's embrace. Show some spirit, guys! We suggest testing your new CBS overlords' sense of humor by wearing some 2006-vintage "I Hate Les Moonves" T-shirts, from the days of his tussles with Howard Stern. Ironically retro, of course.

CBS: "Also, we are not going to merge with AOL and bleed ourselves dry."

Nick Douglas — Mon, 06 Nov 2006 10:18:25 EST

CBS forms a new division, CBS Interactive, headed by star dealmaker Quincy Smith. Smith was involved in Viacom buying Neopets, CNet buying Webshots, and several Google deals. He reports directly to CBS chief Les Moonves.

Says Moonves: "We are not going to spend $1.6 billion on YouTube." Good idea, Les, since someone already did that.

CBS Appoints Digital Overseer to Integrate Its Digital Efforts [NY Times]