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CBS's Moonves Says Content Deal With Apple TV Is Likely - Bloomberg Business
CBS Corp.’s discussions with Apple Inc. over TV programming will probably lead
to a deal, CBS Chief Executive Officer Les Moonves said.
“Apple is having conversations with everyone about doing their own streaming
services,” Moonves said in an interview Wednesday on Bloomberg TV. “We have had
those conversations, as have the other networks. Do I think something will
happen? Probably, but I do not know when.”
CBS is having similar discussions with other companies including Facebook Inc.
and Netflix Inc. about rights to stream TV shows and live broadcasts over the
Internet, Moonves said.
Apple delayed the start of its planned live online TV service until next year
after gaining little progress on program licensing discussions with media
companies. CBS, with popular shows like “The Big Bang Theory” and “Criminal
Minds” is one of the key elements to a live subscription service that Apple
hopes to use to revolutionize TV.
Media stocks including CBS tumbled earlier this year on concern that subscriber
fees and advertising sales are at risk as the pay-TV industry loses viewers.
More “skinny bundle” subscription alternatives are coming to the market,
offering consumers fewer channels at a lower price, and putting pressure on
programmers that have relied on traditional cable or satellite packages. Dish
Network Corp.’s Sling TV offers a bundle for $20 a month and Verizon
Communications Inc.’s FiOS Custom has packages starting at $55 that exclude
large groups of channels including sports.
The skinny bundle has added uncertainty in the market, Moonves said.
Traditional cable had already been under pressure from video-streaming services
like Hulu and Amazon.com’s Prime. Moonves said CBS shows are popular and will
fare well as new distribution models evolve.
