CBS In Discussions To Purchase College Sports Net
Viacom’s CBS Broadcasting Inc. “is in talks to buy” CSTV, according to sources
cited by Alex Armitage of BLOOMBERG NEWS. Viacom co-President & co-COO Leslie
Moonves “is leading the talks” for CBS, which would add the channel to its CBS
Sports division. CSTV sources said that the net “may be worth as much as” $500M.
16W Marketing Partner Steve Rosner said, “College sports in general are the next
wave of sports spending.” Rosner added that for “companies seeking to advertise
to a young male demographic, college sports channels are ‘very targeted.’” CSTV
CEO Brian Bedol could not be reached for comment, and CBS Senior VP/Communications
Dana McClintock would not comment. Armitage notes Bedol and CSTV co-Founder Stephen
Greenberg “have a history of building sports networks, then selling them for a
profit.” The duo created Classic Sports Network in ’95 with a $40M budget before
selling it to ESPN in ’97 for $200M (BLOOMBERG NEWS, 11/1).
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CBS Sports’ Petitti Tacks
On Exec VP Role |
PETITTI: Tony Petitti was officially named Exec VP of CBS Sports, and he
will also remain Exec Producer. Petitti will oversee day-to-day operations and
will continue to report to CBS Sports President Sean McManus, who last week was
named President of the network’s news division (CBS). Petitti said that
he would “continue to try to find new programming, particularly in the area of
college sports.” He added that CBS Sports “wasn’t likely to become a player in
the negotiations” for MLB postseason games, which is “primarily a primetime package.”
The HOLLYWOOD REPORTER’s Paul Gough notes the net is unlikely to pursue additional
college football rights, as it has three years remaining on a deal with the SEC
(HOLLYWOOD REPORTER, 11/1). Petitti said that negotiating an extension
with the PGA Tour is “one of his first orders of business” (DAILY VARIETY,
11/1).
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