CBS Cutting 40-Plus Jobs; Layoffs Connected To CSTV Re-Org, Rebranding
By David Kaplan - Wed 13 Feb 2008 12:33 PM PST
We have learned that CBS (NYSE: CBS) has laid off about 40-plus employees in connection with the integration of College Sports Television (CSTV) unit into CBS Sports and its rebranding as the CBS College Sports Network, slated for completion in March. CBS bought CSTV in late 2005 for $325 million in stock. Last month, the unit was stripped of its independent status and folded into CBS Sports. As part of that change, CSTV founder Brian Bedol’s job of running the unit was handed over to Tony Petitti, EVP and executive producer of CBS Sports. The new arrangement called for Bedol to help with the transition and then serve as a “senior advisor” to CBS CEO Leslie Moonves. His status appears safe for now, said one network source - though another wasn’t so certain about that.
As for the layoffs, only CSTV staffers - across its TV and online properties- were let go. No CBS Sports personnel positions were affected.
-- Updated: In an emailed statement, CBS Sports said only: ”With the staff actions completed today, the management team of CBS Sports has created a fully rebranded entity that includes the new CBS College Sports Network (formerly CSTV) and, with the full participation of CBS Interactive, a wide range of online activities that fit well with the successful CBSSports.com.”
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