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During the keynote interview at the UBS Global Media and Communications Conference, CBS' CEO Les Moonves said that "if Google wants access to the broadcast networks’ top prime-time shows for its fledgling Google TV product, they are going to have to cough up some cash."
Moonves further said:
“Google TV is very interesting. I’m not sure what it is. I’m not sure what it will do to our business. I know Mr. Schmidt thinks we have our heads in the sand, but I beg to differ.”
Regarding to the abovementioned mentioned quotes, caution is in place at CBS,the central issue is control, control over the distribution method, and control over the monetization of CBS' content. He made clear though, no matter if it concerned Google TV, Hulu or someone else, it will have to pay to license CBS' shows.
Can CBS demand this?
According to Moonves they can. Why? Because Content is King. Moonves said on the UBS Global Media and Communications Conference:
"People want our content. We are going to take our time making the right decision. Caution is a not a bad thing here"
TheStreet further elaborates:
Moonves said he is keeping an eye on the trends in the television sector. While he has been in negotiations with possible partners, he wants to take his time and evaluate his options.
By having desirable content, Moonves believes the company will also appear more attractive to advertisers.
With its advertising accounting for about 65% of the company's total revenue, Moonves expects the recovering ad market to bolster its end of 2010 and 2011 results.