|Exchange:||New York Stock Exchange|
|Industry:||Media - Diversified|
|CBS Corporation was organized in Delaware in 1986. It is a mass media company. The Company operates businesses which span the media and entertainment industries, including the CBS Television Network, cable program services, television content production and distribution, motion pictures, consumer publishing, television and radio stations, interactive media, and outdoor advertising, with a focus on optimizing the performance of each and establishing synergies and efficiencies among them. The Company operates under following segments: Entertainment, Cable Networks, Publishing, Local Broadcasting, Outdoor Americas. The Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Films; and CBS Interactive. The Cable Networks segment is composed of Showtime Networks, the Company's premium subscription program services; CBS Sports Network, the Company's cable network focused on college athletics and other sports; and Smithsonian Networks, a venture between Showtime Networks and Smithsonian Institution, which operates Smithsonian Channel, a basic cable program service. The Publishing segment is composed of Simon & Schuster, which publishes and distributes consumer books under imprints such as Simon & Schuster, Pocket Books, Scribne and Atria Books. The Local Broadcasting segment is composed of CBS Television Stations, the Company's 30 owned broadcast television stations; and CBS Radio, through which the Company owns and operates 126 radio stations in 27 United States ("U.S.") markets. The Outdoor Americas segment provides space for advertisers on out-of-home advertising structures and sites in the U.S., Canada and Latin America, including billboards, rail, subway cars, buses, benches, trains, trams, transit shelters, urban panels, street kiosks, transit platforms and in retail stores, and operates principally through CBS Outdoor. The outdoor advertising industry competes with Clear Channel Outdoor Holdings, Inc., JCDecaux S.A. and Lamar Advertising Company as well as hundreds of smaller regional and local companies. The Company also competes with other media, including broadcast and cable television, radio, print media, the Internet and direct mail marketers, within their respective markets. The Company's businesses are either subject to or affected by regulations of federal, state and local governmental authorities in the U.S. and national, regional and local authorities in foreign countries.|
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