Les Moonves is thinking of getting CBS into the movie business, reports the Associated Press. At a conference this week, the CEO of the media company said he was pondering a plan for CBS to
potentially roll out six to eight pictures a year--each in the $20 million to $50 million range. The company lost its tie to the talkies when it was spun off from Viacom--parent of Paramount--earlier
this year, and currently spends millions licensing movies for use on its networks. But at least one Wall Street analyst was torn on the idea, the AP notes. "It's not shocking (for Moonves) to get into
the movie business. He's been a talented programmer," says Alan Gould of Natexis Bleichroeder. But, "personally, I'd prefer to see CBS use the excess cash flow to increase its dividend and pay a
higher yield to shareholders."
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