Cbs's Moonves Treads Carefully In Digital Biz
The emergence of digital businesses such as Hulu, Netflix and Amazon has opened new revenue streams for CBS, but each one must be separately appraised, CBS chief Les Moonves told a media conference at UCLA on Saturday. Moonves said that recent deals with Netflix and Hulu for content on The CW, which CBS owns with Time Warner, has lifted the CW "from being a losing proposition." However, he revealed that he turned down an offer from Apple's late CEO Steve Jobs for content for a video subscription service that Apple is said to have in the works. As reported by the Hollywood Reporter , Moonves said that he told Jobs, "You know more than me about 99 percent of things, but I know more about the television business."