Redstone: No plans to take CBS, Viacom private: CNBC
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Sumner Redstone, executive chairman of media companies CBS Corp.  and Viacom Inc. , said in a television interview on Wednesday he has no plans to take the companies private, dispelling Wall Street speculation.
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CBS Corp is interested in spotting the  next big phenomenon in user-generated programming over the  Internet, not buying market leader YouTube, Chief Executive  Leslie Moonves said on Thursday.
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U.S. financial news network CNBC may  not have to look far for its next insider trading feature.
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CBS Corp. said on Tuesday it would cut  Executive Chairman Sumner Redstone&#39;s salary and link his  compensation more closely to the media company&#39;s stock price,  settling shareholder litigation over its compensation  practices.
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News Corp.  will not pull its television shows from Apple Inc's  iTunes as rival media group NBC Universal has done over a pricing dispute, President Peter Chernin said in an interview on Tuesday.
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Media conglomerate Viacom Inc. (VIAb.N) is considering entering the video game business and could acquire Midway Games Inc. (MWY.N), Viacom chief Sumner Redstone, who owns a controlling stake in Midway, said in a regulatory filing on Friday.
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Viacom, the parent company of MTV Networks, whose Comedy Central unit produces The Daily Show and South Park, among others, has retracted its agreement with Google's YouTube unit reached last October, and is asking Google to remove videos of programming it produces from public access.
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Louis Rukeyser, host of financial news network CNBC&#39;s &quot;Louis Rukeyser&#39;s Wall Street,&quot; said he won&#39;t return to the weekly program following his treatment for cancer.
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Will Comcast be one of the many cable companies to go private?
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A deal between Google Inc. and CBS  Corp. that would let YouTube users watch clips from CBS shows  such as "The Late Show with David Letterman," has unraveled,  the Wall Street Journal reported on Wednesday.
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The Redstones, the family that  controls Viacom Inc.  and CBS Corp. (CBSa.N),  have taken their private squabble public in a battle that  throws into question succession plans for the global media  company.
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Media conglomerate Viacom Inc. on  Monday said it will cut in half Executive Chairman Sumner  Redstone's salary and cash bonus compensation to about $4.5  million annually amid criticism that he was among one of the  most highly paid executives in the United States.
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Networks wont run church spot featuring gay couple; say ad runs contrary to company policies. By Steve Hargreaves, CNN/Money Staff Writer.
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In a case of history  repeating itself, Sumner Redstone has ousted Viacom Inc.  president and CEO Tom Freston, with the executive chairman of  the media giant telling surprised investors Tuesday that two  longtime confidants have returned to take the helm.
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Representatives of older and new media companies detailed their embraces of the Internet Friday at the Web 2.0 Summit conference in San Francisco, with supposed old-line companies emphasizing opportunities and dismissing any threats to longstanding business models.Executives from CBS, Comcast, Joost, and Current participated in panel sessions on media operations and the Internet. While the Internet might be seen as potentially taking viewers away from traditional broadcast and cable television, panelists noted that TV viewership still accounts for several hours per person daily and continues on its 30-year trend upward.Comcast and CBS officials both noted that the Internet can extend their businesses."We love the Internet for a variety of reasons," said Amy Banse, president of Comcast Interactive Media, which is responsible for the cable TV provider's Internet businesses. People use Comcast's pipe to access the Internet and Comcast is the largest residential ISP, she said.But Comcast also believes in cable TV and that it will be around for a while, she said. "People thought that with television, radio would disappear and with cable television, broadcast television would disappear, and we all know that that hasn?t happened," Banse said.The Internet has enabled CBS to extend beyond its largely U.S.-based audience and to gain "new eyeballs," said Quincy Smith, president of CBS Interactive, which covers Internet operations. "We, CBS, have not found the Internet to be cannibalistic to television," Smith said.Persons who see a two-minute clip of a CBS show, such as "How I Met Your Mother," might be encouraged to watch the program, he said. He recalled how a recent clip of David Letterman interviewing Paris Hilton showed up on YouTube and drew a lot of traffic; this was embraced by CBS, which carries Letterman's show.Asked by panel moderator Josh Quittner, of Fortune magazine, if she was worried about Google, Banse dismissed this."You want me to be a dinosaur running scared. I'm really not," she said. Google has been a "wonderful partner" for Comcast, with people accessing the search site via the Comcast pipe, said Banse.?In a subsequent panel session, officials from Joost, which provides broadcast-quality Internet television service, and Current, which blends broadcast TV with interactive Internet communications, shared their companies' visions."We wanted to bring the magic of the Internet to television, not the dumbness of television to the Internet," said Joel Hyatt, co-founder and CEO of Current. A community has been fostered to submit video that can be viewed on Current TV.Joost, meanwhile, is making peer-to-peer-based video distribution software that can run on PCs and the Macintosh, said Mike Volpi, Joost CEO. High-quality is streamed, with some of it professionally created by companies such as CBS and Viacom. Other content is developed by persons who are not so familiar. Joost is trying to develop an advertising-supported model.Both Joost and Current embrace advertising as a business model."I believe advertising is definitely the way to go," Volpi said. Advertising thus far has not blended well on the Internet because it has been offered in the form of banner ads or keywords, he said. But there are plenty of ad dollars to be gained by going after targeted users, he said.
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Media conglomerate Viacom Inc.   VIAb.N on Monday said it will cut in half Executive Chairman   Sumner Redstone's salary and cash bonus compensation to about   $4.5 million annually amid criticism that he was among one of   the most highly paid executives in the United States.
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YouTube's deals with the traditional media companies continued to unravel, with the Wall Street Journal saying Wednesday that CBS is the latest casualty. At issue were disagreements on the language of the deal.