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A deal between Google and CBS that would let YouTube users watch clips from CBS shows such as "The Late Show with David Letterman," has unraveled, the Wall Street Journal reported on Wednesday.
Amazon.com and TiVo will begin testing Wednesday a service that lets users watch videos rented or bought over the Internet directly on televisions, as part of a trend to link personal computers and TVs.
So much for CBS's spinoff from Viacom -- meaning that it's focusing on one business -- the eye is really trying to become a vertically integrated media company. First CBS says it's starting a movie studio -- making films to fill its cable TV slots (owning the content means no fees, more control) -- and now, CBS is starting a music business.
CBS has launched a new recorded music label -- reviving the name of long-defunct CBS Records -- through which the company plans to release music and promote artists on its networks' stable of television shows.
Who could have imagined Disney, Fox, Viacom, CBS and NBC Universal all teaming up together? They're so desperate to compete with Google's YouTube -- and to get paid for all that copyrighted material -- that desperate times have called for desperate measures. But more often that not, too many cooks spoil the broth.
While a deal is still far off, the four media companies envision a jointly owned site that would be the primary Web source for videos from their television networks,
Les Moonves says he has no plans for major acquisitions in the immediate future, but is looking to make strategic deals in the new media sector.
It's been just under a year since Viacom split in two and CBS President/CEO Les Moonves is still standing. During the Moonves tenure--CBS stock has gone up almost 20%. The company has a lot of cash and some on Wall Street think CBS isn't doing enough with it. CNBC's David Faber has reaction from Moonves on the "cash problem" on "Squawk on the Street."