CBS CEO Les Moonves told an investor conference he is hopeful that automotive advertising as hit rock bottom, Bloomberg reports. “The minute there’s a slight improvement in the market, and there will be, CBS is going to get the bulk of that revenue,” Moonves said. Moonves also said CBS hopes to reach a deal soon with Cablevision Systems similar to one announced Tuesday with Time Warner Cable that pays more for programming on CBS and its Showtime unit.
—Jon Lafayette