Leslie Moonves -- Who Just Received a Cool $22 Million as a Bonus for Re-Upping With CBS -- Says If Sony Puts Its Movie and TV Businesses on the Block, CBS Might Be Interested in Buying Them AP
If Sony wants to sell its movie and TV businesses, CBS CEO Leslie Moonves says CBS might be interested in buying them, reports The Wall Street Journal. [Note: The WSJ is behind a firewall and might charge you to read this story.]
According to The WSJ, Moonves "confirmed speculation he might be interested in CBS buying Sony Corp.'s film and TV studios businesses in the event they were put up for sale. 'We love our current portfolio, but as a content company, we would want to look at them,' Mr. Moonves said. He cautioned that there were no specific plans right now to do a deal. Sony didn't immediately respond to a request for comment."
The WSJ story notes that "Mr. Moonves also said CBS was prepared to distribute its content directly to viewers, via apps or Web portals, in the event that a la carte pricing and cord-cutting eventually threaten the company's business model."
CBS has just given Moonves a signing bonus worth $22 million after the chief executive signed a contract through the middle of 2017, reports the Associated Press.
The signing bonus includes $7.5 million worth of stock options, with another $14.5 million in restricted stock units that are due in 2013, the story says. That comes on top of an annual salary of $3.5 million and a target bonus of $12 million annually.