Les Moonves continues to make the rounds on the investor presentation circuit, and according to Marci Ryvicker of Wells Fargo Securities, had some interesting things to say about the company’s television program prospects.
The comments involved program departures, pilots and late night.
For starters, the schedule at the moment is doing very well, and few departures are expected. For that reason, CBS is going to significantly curtail its investment in pilots.
According to Ryvicker, the company normally puts together between 20 and 22 pilots, but this year will hold the line a 17, nine of them dramas along with eight comedies.
Among the few show retirements are two that will benefit the company on the expense front. The exit of “Two And a Half Men” and “The Mentalist” will instantly cut costs for the company.
And CBS stands to have a financial benefit when David Letterman exits. That is because Letterman owns his late night program; replacement Stephen Colbert will not, so all of the ancillary benefits of the program will accrue to CBS.
Moonves mentioned again that the company is open to trimming its radio portfolio, and that it is also open to participation in the incentive auction. He also noted that advertising seems to be picking up.
