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Moonves hopeful for auto ads


January 06, 2009 "There is no question that 2008 was a tough year for advertising," Moonves said at Citi's 19th Annual Entertainment, Media and Telecommunications Conference in Arizona in a session that was webcast. [...] a recent auto bailout and the fact that European carmakers are eyeing increased U.S. market shares make Moonves "more optimistic" than most peers on an auto ad rebound in 2009. The CEO also cited strong CBS network ad trends and solid momentum at the firm's non-ad-based businesses, such as Showtime and TV syndication (particularly in overseas territories), as encouraging.

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