First Sumner Redstone, now Moonves. I love the smack talk!
CBS CEO Les Moonves said that NBC’s decision to put Jay Leno on in prime time will help his company’s bottom line.
“We were the No. 1 network at 10 o’clock last year,” Mr. Moonves told analysts and investors during CBS’ quarterly earnings conference call Thursday.
He estimated that CBS took in 38% of the broadcast ad revenue available at 10 p.m., and that even if Leno does great for NBC, he expects CBS’ ad revenue share to jump to “45%, maybe 47%.”
“We don’t break out how much each time period is worth, but 10% of an arguably many-hundreds-of-millions-of-dollars pie is a lot of money,” Mr. Moonves said. “That’s why we wish Jay well. We think this is a big plus for us and ABC in terms of revenue.”