Word: cbs
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Dates: during 1990-1999
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...sent to the bench as a result of CBS's acquisition of its AFC rights, had to resort to claiming rational behavior to explain coming up empty-handed. Executives at the unit of giant General Electric called the contract bids "reckless," saying it wasn't worth more than $340 million a year to keep the AFC rights, the weakest in the package, or more than $500 million a year to obtain Monday Night, considered the strongest. "There was no chance of making money in this deal," said Dick Ebersol, president of NBC Sports, after the announcements. "I'll guess...
...foundation for establishing entire television (Fox) and satellite (British Sky Broadcasting) networks. From this perspective, it makes sense to pay more for the NFL than you can get back in advertising revenues. Murdoch fired that thunderbolt in 1994, paying $1.58 billion for the NFC package, 49% more than CBS had been paying. News Corp. wrote off some $350 million after the swipe, but the strategy helped the Fox Network reach parity with the Big Three...
...CBS's experience demonstrates that if having the NFL is expensive, not having it is even more so. After CBS lost football, several of its affiliates jumped ship, weakening the network's local-station base. And building a new series into a hit became more difficult because the networks use sports to flog their other shows endlessly. Without a football lead-in, 60 Minutes' audience share shrank from 30% to 22%. CBS eventually sank to third place. With football, the network, which owns stations in seven AFC markets, insisted it would break even by selling more...
Companies generally don't risk $4 billion to break even. But CBS, now No. 2 in the ratings, is in serious need of programming events, young viewers and more male viewers. Even if CBS takes a loss, football becomes part of an overall strategy to regain the top spot on the network heap. "This is a building block," says Neal Pilson, a sports-television consultant and former president of CBS Sports. "An expensive building block." If football can increase prime-time ratings by 1 point, "That could throw $50 million to the bottom line for a full season," says Pilson...
...CBS The Bloodshot Eye gets back on the gridiron. Sure, it's pricey, but look at the alternative: Tisch...