- Reuters, Monday, December 13, 2010 12:43 AM
CBS Corp's top outside shareholder has sold off most of its holdings in the broadcast television and radio company, according to a regulatory filing on Thursday Investment firm AllianceBernstein
lowered its stake in CBS from about 37.4 million common shares, or about 6 percent, as of Sept. 30, 2010, to about 2.2 million shares, or less than 1 percent as of Nov. 30.
CBS is
controlled by media mogul Sumner Redstone who holds a majority voting stake in the company. CBS shares are up almost 28% year-to-date as the company, home to the most-watched U.S. broadcast network,
has enjoyed a rebound in advertising.
Read the whole story at Reuters »