>>> THE STORM, SO TO SPEAK, AT
CBS IS NOT OVER, AND IT’S
PLAYING OUT LIKE A NEW FALL
DRAMA WITH THE LATEST
INSTALLMENT RIGHT THERE.
IT’S KIND OF BUMPING AROUND,
THEN IT SPIKED THREE AND IS A
THIRD PERCENT ON NEWS THAT
CHARLIE GASPARINO IS BREAKING
RIGHT NOW.
GIVE IT TO US.
>> I MEAN, LISTEN, THIS IS A
COMPANY RIPE FOR UPDATES ABOUT
WHAT’S GOING ON INTERNALLY, LES
MOONVES WAS FORESTED OUT AS CEO.
-- FORESTED OUT AS CEO -- FORCED MOONVES WAS FORESTED OUT AS CEO.
-- FORESTED OUT AS CEO -- FORCED
OUT.
A COMPANY IN TRANSITION, I GUESS
IS THE BEST WAY TO PUT IT,
FOLLOWING MOONVES’ EXIT.
WE UNDERSTAND THAT THE CBS BOARD
OR IS PLANNING TO SEARCH FOR A
NEW CEO AS MEMBERS CONSIDERED
THE CURRENT INTERIM CEO, THE
FORMER COO, HE’S CONSIDERED A
LEADING CANDIDATE.
HE APPARENTLY DOES HAVE SOME
STRONG SUPPORT ON THE BOARD.
I THINK THE STOCK IS MOVING
SOMEWHAT ON THAT, BUT IT’S ALSO
MOVING ON THIS, THAT FROM WHAT
WE UNDERSTAND THERE SOURCES
INSIDE THE COMPANY THAT THE CBS
BOARD WILL SOON BEGIN TO TEST
THE MARKET FOR A POTENTIAL
BUYER.
AND THAT WOULD LIKELY COME
SOMETIME AFTER THE MOONVES
PROBE.
SO WE SHOULD POINT OUT THE
MOONVES PROBE INTO HIS, THOSE
SEXUAL HARASSMENT ALLEGATIONS
THAT LED TO HIS DEPARTURE IS
STILL ONGOING.
I DON’T HAVE A GOOD TIME FRAME
WHEN IT’S GOING TO END OTHER
THAN SOON, I’VE BEEN TOLD.
THE OUTCOME OF THAT COULD BE
THAT LES MOONVES GETS SOME OF
HIS ROUGHLY $150 MILLION
SEVERANCE --
LIZ: IS HE REALLY GOING TO GET
THAT?
>> -- OR ZERO.
IT FENDS ON WHO YOU TALK TO --
LIZ: YOU DON’T THINK THERE WILL
BE MASSIVE PUSHBACK?
>> I TALK TO PEOPLE INTERNALLY,
THEY TELL ME UNLIKELY TO GET ALL
OF IT, A GOOD CHANCE HE’S NOT
GOING TO GET ANY OF IT, AND THE
WHOLE THING GOES TO ARBITRATION.
THAT’S WHAT I THINK WILL HAPPEN, WHOLE THING GOES TO ARBITRATION.
THAT’S WHAT I THINK WILL HAPPEN,
I CAN’T GUARANTEE.
THAT’S SPECULATION.
WHAT ISN’T SPECULATION IS THE
NOTION THAT CBS’ BOARD WILL LOOK
FOR A POTENTIAL BUYER AT SOME
POINT FOR THE COMPANY.
LIZ: OKAY.
>> THEY’RE GOING TO TEST THE
WATERS, I UNDERSTAND, ONCE THIS
INVESTIGATION IS OVER, AND, YOU
KNOW, THEY’RE GETTING NEW BOARD
MEMBERS IN.
BUT THEY ARE GOING TO GO OUT
THERE AND TEST THE WATERS.
I DON’T HAVE INFORMATION THAT
THEY HAVE ESSENTIALLY HIRED
BANKERS NOW TO DO IT.
THIS THING IS APPARENTLY GOING
TO HAPPEN AT SOME POINT SOON --
LIZ: WHAT THING, THE SALE OF THE
COMPANY?
LET’S BE CLEAR.
>> THE SHOPPING OF THE COMPANY.
LIZ: SHOPPING.
>> AND HERE’S THE THING, IF THEY
CAN’T FIND A BUYER, YOU’LL
PROBABLY SEE IT END UP WITH
VIACOM WHICH IS WHAT SHARI
REDSTONE, THE --
LIZ: WANTED ALL ALONG.
>> -- THE HEAD OF THE
CONTROLLING REDSTONE FAMILY
WHICH CONTROLS VIACOM TOO, MEDIA
PROPERTIES AND CBS, THAT WILL BE WHICH CONTROLS VIACOM TOO, MEDIA
PROPERTIES AND CBS, THAT WILL BETHE OUTCOME IF THEY CAN’T FIND A
THE OUTCOME IF THEY CAN’T FIND A
BUYER.
AND, YOU KNOW, WHEN YOU TALK TO
PEOPLE RICH GREENFIELD, ONE OF
THE BEST ANALYSTS AT BTIG, HE
THINKS THE NATCH AS PLACE WOULD
BE -- NATURAL PLACE WOULD BE
WITH VIACOM.
AT&T IS OUT OF IT, THEY HAVE
THEIR HANDS FULL WITH TIME
WARNER.
COMCAST CAN’T GET ANY BIGGER
BECAUSE THE JUSTICE DEPARTMENT’S
BASICALLY TELLING THEM EVERY
DAY, WE DO NOT WANT YOU GETTING
BIGGER.
THAN A TECH FIRM.
THERE’S NOT MUCH OUT THERE OTHER
TECH HAS NOT SHOWN AN
INCLINATION TO BUY MEDIA
PROPERTIES.
SO THEY’RE BACK IN THE ARMS OF
VIACOM.
THAT’S WHERE IT WILL EVENTUALLY
END UP.
NOW, CAN’T GUARANTEE THAT,
THAT’S JUST RICH’S THEORY, BUT
IT DOES MAKE SOME SENSE.
WE CAN TELL YOU THE BOARD IS
GOING TO BE DOING THE SEARCH FOR
A CEO, AND THE BOARD WILL BE
SHOPPING THE COMPANY AT SOME
POINT AFTER THE MOONVES THING IS
DONE.
LIZ: WHAT DO YOU THINK OF NOW
PHIL BREDESEN, THE CANDIDATE FOR
SENATE TENNESSEE WHO IS
TWEETING: THANK YOU, TAYLOR
SWIFT, FOR THE KIND WORDS.
SO NOW YOU’VE GOT CELEBRITIES
WEIGHING IN ON MIDTERM
ELECTIONS.
HE’S IN A HEAD THE HEAD RACE
WITH MARSHA BLACK BURP, PEOPLE
SAYING TAYLOR SWIFT SHOULD BE
QUIET.
DID THE TRUMP FANS SAY THAT
ABOUT KANYE?
THEY’RE PEOPLE TOO.
I MEAN, EVERYBODY’S ALLOWED TO
GIVE THEIR OPINION --
>> I AGREE, BUT WE DO -- I’M NOT
SAYING SHE SHOULDN’T HAVE AN
OPINION, BUT WE DO GIVE THE
KARDASHIANS AND THE TAYE RECORD
SWIFTS -- TAYLOR SWIFTS WAY TOO
MUCH CREDIT --
LIZ: WELL, THEY’RE BIG BUSINESS
STORIES.
>> THESE ARE NOT BRILLIANT
POLITICAL MINDS.
RIZ IZ.
LIZ: IS KANYE?
>> NONE OF THEM.
I COULD CARE LESS ABOUT ANY OF
THEM.
NONE OF THEM KNOW -- MOST OF
THESE MUSICIANS, THEY A BARELY
READ, THEY’RE NOT THAT SMART,
AND THEY COULDN’T FIND THEIR
REAR END WITH --
LIZ: YOU ARE SO CRAZY.
>> THEY DON’T --
LIZ: THE ROCK HALL OF FAME IN
CLEVELAND, BROWNS WIN!
AND THEY’RE SMART.
>> HAVE YOU EVER LISTEN TO SEAN
PENN TRY TO STRING TOGETHER A
LOGICAL SENTENCE?
LIZ: WELL, THE GOOD NEWS IS,
IT’S A FREE COUNTRY.
>> YEAH, I AGREE, BUT WE GIVE
THEM, WE MAKE THESE CELEBRITY --
LIZ: TRUE, THAT IS TRUE.
>> THAT THEY’RE SO BRILLIANT AND
THEY KNOW EVERYTHING.
LIZ: CHARLIE, THANK YOU.
>> THEY’RE GOOD LOOKING, THEY’RE