Bloomberg News

CBS CEO Moonves Says Company No Longer Interested in CNN

August 07, 2014

CBS Corp. (CBS:US) no longer wants to buy CNN now that it’s unlikely to be put up for sale, Chief Executive Officer Les Moonves said.

Moonves had expressed interest last month in buying the 24-hour news channel if it became available after Rupert Murdoch’s 21st Century Fox Inc. made an unsolicited takeover bid for the current owner, Time Warner Inc.

Murdoch had said he would sell CNN if his takeover effort prevailed. He withdrew the $75 billion bid this week after being rejected by Time Warner’s board and said his decision not to pursue the company further was “resolute.”

Moonves made his comments today during a conference call following CBS’s second-quarter earnings report.

To contact the reporter on this story: Rob Golum in Los Angeles at rgolum@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


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