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Dan Rather sits for an interview at his office in New York. (Michael Appleton/New York Daily News/MCT)In a move that will relive his ouster as anchor of the CBS Evening News and subsequent acrimonious departure from the network he called home for decades, Dan Rather has filed a $70 million lawsuit against CBS Corp. (NYSE: CBS), according to the New York Times.

The 75-year-old Rather obviously is bitter about how the network handled the investigation into how uncorroborated allegations about President Bush's service in the Air National Guard made it onto the air. In his lawsuit, Rather accuses CBS of committing fraud with its "biased" investigation that "seriously damaged his reputation," the Times says. Named in the suit are CBS president Leslie Moonves and Sumner Redstone, the media mogul who controls the company and its former parent Viacom Inc. (NYSE: VIA).

Oh brother.

Continue reading Media World: Dan Rather's lawsuit against CBS is just sad

Media World: Dan Rather's lawsuit against CBS is just sad originally appeared on BloggingStocks on Wed, 19 Sep 2007 17:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>60 minutes60Minutesbroadcast journalismbroadcast newsBroadcastJournalismBroadcastNewscbsCBS Evening NewsCbsEveningNewsdan ratherDanRatherhdnetjournalismlawles moonvesLesMoonvesnewsviaViacomWed, 19 Sep 2007 17:30:00 EST<![CDATA[CBS: No good news]]>http://www.bloggingstocks.com/2007/07/31/cbs-no-good-news/http://www.bloggingstocks.com/2007/07/31/cbs-no-good-news/http://www.bloggingstocks.com/2007/07/31/cbs-no-good-news/#commentsFiled under: , , ,

CBS (NYSE:CBS) today announced results for the second quarter that were dreadful.

Net income plunged 48% to $404 million, or 55 cents per share, versus $781.7 million, or $1.02 per share, a year earlier. Revenue fell 3% to $3.4 billion.

Operating income before depreciation and amortization ("OIBDA") of $859.4 million and operating income of $749.9 million for the second quarter of 2007 remained flat with $858.9 million and $750.3 million, respectively, for the same prior-year period.

On an adjusted basis, excluding tax benefits from iincome tax settlements in both years and the pre- tax gain and related tax effect of station divestitures, net earnings from continuing operations increased 9% to $393.1 million, or 54 cents. Analysts had expected a profit of 51 cents per share on revenue of $3.42 billion..

Nothing to write home about.

Where is Mel Karamzin when you need him?

Douglas A. McIntyre is a partner at 24/7 Wall St.

CBS: No good news originally appeared on BloggingStocks on Tue, 31 Jul 2007 10:05:00 EST. Please see our terms for use of feeds.

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