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Global Edition | Today Is Friday, March 12, 2010 |
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Global Edition | Today Is Friday, March 12, 2010 |
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| The New York Times Does It Right | « Scan Content In The Order It Was Published » | MacNeil/Lehrer Fallout Continues | |
| Previous In Section | « Scan Only The Network Television Section » | Next In Section | |
Dan Rather, CBS Evening News
New York – In its heyday, CBS News was treasured and coddled. Sometimes altruistically, but frequently for influence or political advantage for its original owners. CBS News was a prestigious and award winning news operation — regarded by management as a necessary, if costly service. While prestige and cost were issues at NBC, and to a lesser degree at ABC, CBS excelled by lavishly supporting, promoting and exploiting its news division — especially for its far reaching political value.
CBS News’ early success was measured by its reputation, impact and prestige for affiliates — not in dollars. While William Paley era executives spoke enthusiastically about public service and civic responsibility, the reality was that CBS News was a powerful tool in Washington at a time when broadcasting was highly regulated.
Edward R. Murrow, CBS News 1954
Until deregulation of broadcasting in 1982, CBS News prospered thanks to its immense value to the network and its affiliates. In 1995, when Westinghouse bought CBS, the news division was no longer seen as an instrument of network power. By the time CBS was sold to Viacom in 2000, the intrinsic value of a prestigious and successful news division was overlooked by ensuing management. With all pretense of public service gone, management focused on shareholder value by way of stock appreciation.
Stock prices are earnings driven — a concept that runs counter to the structure and culture at CBS News. Today, CBS Corporation is an independent entity within the Viacom organization. Sumner Redstone is the principal executive although CBS is run as an independent entity by former Viacom executive Leslie Moonves.
Walter Cronkite, CBS News
After having been twice on the auction block, the old Tiffany network’s news division bears little resemblance to its earlier glory. Somewhere along the line, the cost center mentality turned into today’s profit center mentality. Neither way of thinking about CBS News fits present day reality, for although news and information broadcasts can be immensely profitable ( i.e. 60 Minutes ), they can also serve the greater good and extend corporate reach by intrinsic values well beyond what’s possible with entertainment programming.
Today the future of CBS News remains in doubt. New Media has changed everything — especially where viewers expect to find entertainment and information in the future. Bid media is all about cash cowing, not investing in new markets, technologies and delivery means. The implications for CBS news, as well as its network competitors are ominous.
