• by Wayne Friedman , December 5, 2007

CBS' Les Moonves says the writers' strike will bring costs down--but the effect on the network will be negligible.

"In terms of [our] financial future, in the near-term and midterm, it will not affect us at all," said Moonves, president/CEO of CBS Corp., in speaking at the UBS Global Media and Communications conference in New York.

At the same time, Moonves said ratings will be down--but he didn't say by how much.

For December, he noted the network had several holiday specials on tap, with the rest of their lineup in reruns. Typically, most networks go into heavy rerun mode in December before the holidays. Estimates are that 40% of networks' prime-time lineups are now repeats.

Starting in January and throughout the first quarter, Moonves said CBS had original programming, as well as returning reality shows such as "Survivor." Summer reality show series "Big Brother" will also be available after the first of the year with new episodes.

Moonves also said CBS would use sister pay cable network Showtime to bolster its prime-time lineup. Moonves, however, wouldn't identify which Showtime shows would air on CBS.

Moonves wasn't optimistic about a quick resolution to the writers' strike. Previously, Peter Chernin, president/COO of News Corp., also said Fox's near-term financials would not change because of the strike.