CBS Inc. chairman Laurence Tisch, speaking at the company’s annual meeting here, said, “CBS has just begun to capitalize both on its status as the nation’s top-rated television programmer and on its efforts to carefully contain costs.”
He added that CBS is now on target to improve its full-year 1993 operating results over both last year’s result of $ 10.51 per share, and 1989’s record level of $ 11.54 per share from continuing operations.
Tisch used his address to trumpet the programming victories that made CBS No. 1 in prime time, daytime and sports. Longer term, Tisch said expanded production and ownership of programming is key to the company’s growth.
The CBS topper emphasized the need for more regulatory reform. “In 1992, free television made some tentative headway in the area of regulatory reform,” Tisch said. “Deregulation of broadcasting is absolutely necessary for the long-term vitality of free television, particularly with the advent of 500-channel systems operated by well-endowed cable and telephone companies.”