CBS' Les Moonves reassures stockholders

June 09, 2009 CBS Corp. shares were overly punished during the recession, but they will continue to rise as the economy strengthens, president and CEO Leslie Moonves said Tuesday. Speaking in New York at the company’s annual shareholder meeting, Moonves pointed out that the stock already had doubled from its low point this year. “As the economy improves, our stock price will too,” he said. Beyond improved ad trends, CBS financials during second-half 2009 will benefit from strong syndication titles and a lower cost structure that the firm has implemented during the recession, Moonves said.

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