2017 News Releases

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11/21/17CBS Corporation Announces Final Results of CBS Radio Exchange Offer
NEW YORK, Nov. 21, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) ("CBS") today announced the final results of its offer to shareholders to exchange their issued and outstanding shares of CBS Class B common stock for shares of CBS Radio Inc. ("CBS Radio") common stock owned by CBS as part of its agreement to combine CBS Radio with a subsidiary of Entercom Communications Corp. (NYSE: ETM) ("Entercom"). The exchange offer expired at 11:59 p.m., New York City time, on November 16, 2... 
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11/21/17CBS Corporation Announces Quarterly Dividend
NEW YORK, Nov. 21, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has approved a quarterly dividend on the Company's stock of $.18 per share. The dividend is payable on January 1, 2018, to shareholders of record on December 11, 2017. About CBS Corporation CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The C... 
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11/17/17CBS Corporation Completes Split-Off Of CBS Radio
NEW YORK, Nov. 17, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced the completion of the split-off of CBS Radio Inc., which was merged with a subsidiary of Entercom Communications Corp. (NYSE: ETM) through a "Reverse Morris Trust" transaction. The closing of the merger followed the previously announced expiration of the Company's exchange offer. As a result of the merger, participating CBS stockholders will receive one share of Entercom Class A common stock in exchange... 
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11/17/17CBS Corporation Announces Preliminary Results Of CBS Radio Exchange Offer
NEW YORK, Nov. 17, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) ("CBS") today announced that its previously announced offer to shareholders to exchange their shares of CBS Class B common stock on a per-share-basis for 5.6796 shares of CBS Radio Inc. ("CBS Radio") common stock expired at 11:59 p.m., New York City time, on November 16, 2017, and based on preliminary results, the exchange offer was oversubscribed. The exchange offer to split-off CBS Radio is part of CBS' agreement to ... 
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11/14/17CBS Corporation Sets Final Exchange Ratio Of 5.6796 For CBS Radio Exchange Offer
NEW YORK, Nov. 14, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) ("CBS") today announced the final exchange ratio of 5.6796 in connection with its previously announced offer to shareholders to exchange their shares of CBS Class B common stock for shares of CBS Radio Inc. ("CBS Radio") common stock. The exchange offer to split-off CBS Radio is part of CBS' agreement to combine its radio business with Entercom Communications Corp. (NYSE: ETM) ("Entercom"). For each share of CBS Cl... 
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11/13/17CBS Corporation Announces Proposed Senior Notes Offering
NEW YORK, Nov. 13, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced plans to offer, subject to market and other conditions, senior notes in a private debt offering. After deducting fees and expenses related to this offering, CBS intends to use the net proceeds for general corporate purposes, which may include, among other purposes, redemption of long-term indebtedness, discretionary contributions to CBS qualified pension plans, or the repayment of short-term borrowin... 
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11/13/17CBS Corporation Announces Redemption of 5.75% Senior Notes Due 2020
NEW YORK, Nov. 13, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced the full redemption of its outstanding 5.75% senior notes due April 15, 2020. The redemption date is November 30, 2017. The total redemption payment for the notes is equal to the sum of the principal amount of the notes outstanding, the make-whole amount calculated in accordance with the terms of the notes and the related indenture under which the notes were issued, and the accrued and unpaid interes... 
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11/13/17CBS Corporation Prices $900 Million Senior Notes Offering
NEW YORK, Nov. 13, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today announced the pricing of a private debt offering of $400 million of 2.900% senior notes due 2023 and $500 million of 3.700% senior notes due 2028. The sale of the notes is expected to close on November 16, 2017, subject to customary closing conditions. After deducting fees and expenses related to this offering, CBS intends to use the net proceeds to redeem all of the Company's $500 million outstanding aggregat... 
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11/02/17CBS Corporation Reports Third Quarter 2017 Results
Revenues of $3.2 Billion, Up 3% Diluted EPS of $1.46, Up 36%; Adjusted Diluted EPS of $1.11, Up 6% NEW YORK, Nov. 2, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported results for the third quarter of 2017, including record third-quarter adjusted diluted earnings per share ("EPS"). "Our solid third-quarter results demonstrate the way we are shifting our business to capitalize on changing viewing habits," said Leslie Moonves, Chairman and Chief Executive Officer, C... 
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10/19/17CBS Corporation Launches Exchange Offer To Split-Off CBS Radio
Combination of CBS Radio and Entercom Will Create Scale and Reach across the U.S., Including 22 of the Top 25 Markets NEW YORK, Oct. 19, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) ("CBS") today announced the commencement of an exchange offer for the separation of its radio business as part of its previously announced agreement to combine CBS Radio Inc. ("CBS Radio") with Entercom Communications Corp. (NYSE: ETM) ("Entercom"). The combined company will have a nationwide footpri... 
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09/20/17CBS Corporation To Report Third Quarter 2017 Results On Thursday, November 2
NEW YORK, Sept. 20, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that it will report results for the third quarter of 2017 after the market closes on Thursday, November 2, 2017. The earnings announcement will be available in the Investors/News & Events section of the Company's corporate website, www.cbscorporation.com. The Company will then conduct a teleconference call at 4:30 PM, ET. The call is open to the general public. The domestic conference call number is... 
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09/05/17CBS Corporation Chairman And Chief Executive Officer Leslie Moonves To Participate In The Goldman Sachs Communacopia Conference
NEW YORK, Sept. 5, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS and CBS.A) announced that Leslie Moonves, Chairman and Chief Executive Officer, will participate in a question-and-answer session at the Goldman Sachs Communacopia Conference in New York on Thursday, Sept. 14, 2017. The session will begin at 8:50 AM, ET. An audio webcast of the session can be accessed here. A replay of the audio webcast will be available in the Investors/News & Events sec... 
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08/07/17CBS Corporation Reaches Agreement With AT&T To Join "DIRECTV NOW" Live TV Service
DIRECTV NOW Subscribers Will Have Access to CBS Television Network's Entertainment, Sports and CBS News Programming as well as SHOWTIME, The CW, CBS Sports Network and Pop NEW YORK, Aug. 7, 2017 /PRNewswire/ -- AT&T (NYSE:T) and CBS Corporation (NYSE: CBS.A and CBS) today announced a new agreement to carry America's most watched broadcast network, CBS, as well as SHOWTIME®, The CW, Pop and CBS Sports Network, on AT&T's DIRECTV NOW live TV streaming service. All networks in the deal will be av... 
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08/07/17Showtime PPV® Boxing Match Mayweather vs. Mcgregor Stands To Be the Most Widely Distributed Pay-Per-View Event of All Time
SHOWTIME® Offers Direct-To-Consumer Purchase Of SHOWTIME Pay-Per-View Event Through The New SHOWTIME PPV AppFloyd Mayweather Vs. Conor McGregor Airs Live On Saturday, August 26 From T-MOBILE ARENA In Las VegasNEW YORK – Monday, August 7, 2017 – The unprecedented SHOWTIME PPV boxing match in which pound-for-pound king Floyd "Money" Mayweather returns to the ring to battle UFC champion "The Notorious" Conor McGregor is expected to be the most widely distributed pay-per-view event of all time. The... 
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08/07/17CBS All Access To Expand Globally
First International Availability Set for Canada by the First Half of 2018, With More Countries to Follow NEW YORK, Aug. 7, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) has announced that it is expanding the availability of CBS All Access internationally through a partnership of its CBS Interactive and CBS Studios International divisions. CBS All Access, the Company's digital subscription video on-demand and live streaming service, will launch initially in Canada in the first hal... 
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08/07/17CBS Corporation Reports Second Quarter 2017 Results
Revenues of $3.3 Billion, Up 9% Operating Income of $669 Million, Up 3% Diluted EPS from Continuing Operations of $.97, Up 18% Adjusted Diluted EPS of $1.04, Up 12% NEW YORK, Aug. 7, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported record second quarter revenues, operating income, and diluted earnings per share ("EPS") from continuing operations. "CBS delivered outstanding second quarter results while continuing to take a number of steps to achieve our lon... 
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07/27/17CBS Corporation Announces Quarterly Dividend
NEW YORK, July 27, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has approved a quarterly dividend on the Company's stock of $.18 per share. The dividend is payable on October 1, 2017, to shareholders of record on September 8, 2017. About CBS Corporation CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Com... 
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06/26/17CBS Corporation Announces Redemption Of 4.625% Senior Notes Due 2018
CBS Corporation (NYSE: CBS.A and CBS) today announced the full redemption of its outstanding 4.625% senior notes due May 15, 2018. The redemption date is July 26, 2017.The total redemption payment for the notes is equal to the sum of the principal amount of the notes outstanding, the make-whole amount calculated in accordance with the terms of the notes and the related indenture under which the notes were issued, and the accrued and unpaid interest on the notes up to, but excluding, the redempti... 
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06/26/17CBS Corporation Announces $900 Million Senior Notes Offering
CBS Corporation (NYSE: CBS.A and CBS) today announced the pricing of a debt offering of $400 million of 2.500% senior notes due 2023 and $500 million of 3.375% senior notes due 2028. The sale of the senior notes is expected to close on July 3, 2017, subject to customary closing conditions.After deducting fees and expenses related to this offering, CBS intends to use the net proceeds to repay at maturity its $400 million outstanding aggregate principal amount of 1.95% senior notes due July 1, 201... 
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05/25/17CBS Corporation To Report Second Quarter 2017 Results on Monday, August 7
NEW YORK, May 25, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that it will report results for the second quarter of 2017 after the market closes on Monday, August 7, 2017. The earnings announcement will be available in the Investors/News & Events section of the Company's corporate website, www.cbscorporation.com. The Company will then conduct a teleconference call at 4:30 PM, ET. The call is open to the general public. The domestic conference call number is (877... 
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05/19/17CBS Corporation Announces Quarterly Dividend
NEW YORK, May 19, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has approved a quarterly dividend on the Company's stock of $.18 per share. The dividend is payable on July 1, 2017, to shareholders of record on June 9, 2017. About CBS Corporation CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company has ... 
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05/04/17CBS Corporation Reports First Quarter 2017 Results
Revenues of $3.34 Billion Operating Income of $704 Million Diluted EPS from Continuing Operations Up 15% to $1.09 Adjusted Diluted EPS from Continuing Operations Up 9% to $1.04 NEW YORK, May 4, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported results for the first quarter of 2017, including record first-quarter adjusted diluted earnings per share ("EPS") from continuing operations. "Our first-quarter results once again demonstrate the strength of our strat... 
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03/17/17CBS Corporation To Report First Quarter 2017 Results On Thursday, May 4
NEW YORK, March 17, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that it will report results for the first quarter of 2017 after the market closes on Thursday, May 4, 2017. The earnings announcement will be available in the Investors/News & Events section of the Company's corporate website, www.cbscorporation.com. The Company will then conduct a teleconference call at 4:30 PM, ET. The call is open to the general public. The domestic conference call number is (800... 
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03/02/17Entercom Communications And CBS Radio Announce Pricing Of Term Loan In Connection With Merger
NEW YORK, March 2, 2017 /PRNewswire/ -- Entercom Communications Corp. (NYSE: ETM) and CBS Radio Inc. ("CBS Radio") today announced that CBS Radio has established pricing for a seven-year, $500 million senior secured term loan B to be issued in connection with their previously announced merger. The loan will have an interest rate of LIBOR plus 2.75%, with no LIBOR floor, and will be issued at par. The new term loan will be issued to refinance Entercom's capital structure, with proceeds used t... 
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02/27/17CBS Corporation Chairman And Chief Executive Officer Leslie Moonves To Participate In The Deutsche Bank 2017 Media & Telecom Conference
NEW YORK, Feb. 27, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS and CBS.A) announced that Leslie Moonves, Chairman and Chief Executive Officer, will participate in a question-and-answer session at the Deutsche Bank 2017 Media & Telecom Conference in Palm Beach, Fla., on Tuesday, March 7, 2017. The session will begin at 8 AM ET. An audio webcast of the session can be accessed here. A replay of the audio webcast will be available in the Investors/News & Events section of the CBS Cor... 
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02/22/17CBS Corporation Chairman and Chief Executive Officer Leslie Moonves To Participate In The Morgan Stanley Technology, Media & Telecom Conference
NEW YORK, Feb. 22, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS and CBS.A) announced that Leslie Moonves, Chairman and Chief Executive Officer, will participate in a question-and-answer session at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco, Calif., on Monday, February 27, 2017. The session will begin at 11:15 AM PT. An audio webcast of the session can be accessed here. A replay of the audio webcast will be available in the Investors/News & Events section of... 
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02/15/17CBS Corporation Reports 2016 Fourth Quarter And Full Year Results
Fourth Quarter Operating Income of $484 Million; Adjusted Operating Income Increases to $733 Million Fourth Quarter Diluted EPS from Continuing Operations of $.63; Adjusted Diluted EPS Increases to $1.11 Full Year Diluted EPS from Continuing Operations Up 9% to a Record $3.46 Full Year Adjusted Diluted EPS Up 24% to a Record $4.11 CBS Radio Now Presented in Discontinued Operations NEW YORK, Feb. 15, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) today reported results ... 
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02/02/17CBS Corporation and Entercom Announce Merger of CBS Radio with Entercom to Create Preeminent Radio Platform
Deal Creates Scale and Reach Across the U.S., with a Nationwide Footprint of 244 Stations, Including 23 of the Top 25 Markets NEW YORK & BALA CYNWYD, Pa.--(BUSINESS WIRE)--Feb. 2, 2017-- Entercom Communications Corp. (NYSE:ETM) and CBS Corporation (NYSE:CBS.A and CBS) today announced that the companies have entered into an agreement by which Entercom will combine with CBS Radio in a tax-free merger. The transaction will create a preeminent radio plat... 
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01/26/17CBS Corporation Announces Quarterly Dividend
NEW YORK, Jan. 26, 2017 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and CBS) announced today that its Board of Directors has approved a quarterly dividend on the Company's stock of $.18 per share. The dividend is payable on April 1, 2017, to shareholders of record on March 10, 2017. About CBS Corporation CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company ... 
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01/04/17Hulu Inks Agreement With CBS Corporation to Add Leading Networks to Upcoming Live TV Service
CBS Corp. Joins 21st Century Fox, The Walt Disney Company and Turner Networks In Hulu's New Live TV Offering SANTA MONICA, Calif., Jan. 4, 2017 /PRNewswire/ -- Hulu today announced a comprehensive, new agreement with CBS Corporation to carry America's most-watched broadcast network, CBS, as well as popular sports and entertainment channels CBS Sports Network and POP, with the potential to add additional networks in the future. All networks in the deal will be available to stream live, with mu... 
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