Nov 10 2009

CBS Corporation Announces Leadership Team For New Local Broadcasting Segment

Anton Guitano Named Chief Operating Officer, Local Media

Dan Mason Extends Contract as President and CEO, CBS Radio

Announcement Follows Naming of Peter Dunn as President of CBS Television Stations

CBS Corporation (NYSE: CBS and CBS.A) announced today a strategic restructuring of its local broadcasting operations, putting in place a new management team to guide the new local broadcasting segment of the company.

As part of the new structure, Anton Guitano, who has served as Chief Financial Officer and Senior Executive Vice President of Operations for CBS Radio, will become Chief Operating Officer of CBS Local Media for the company’s new local broadcasting business segment.

Guitano will report to Leslie Moonves, President and Chief Executive Officer, CBS Corporation, in his new role as COO of Local Media. He will also report to Dan Mason, President and CEO of CBS Radio, and Peter Dunn, the new President of CBS Television Stations, helping to drive each division’s ongoing financial, strategic and operating objectives. In addition, Guitano will also lead CBS’s efforts to capitalize on its unparalleled collection of local news and Internet properties throughout the nation.

“Anton is an executive with unique experience and understanding of both television and radio,” said Moonves. “He has been highly effective in his prior role at our radio group, working closely with Dan Mason, and before that was equally effective at the CBS Television Stations. We look forward to the contribution he will make in our new, coordinated local operation.”

At the same time, Moonves announced that Mason, who has headed CBS Radio since 2007, has extended his contract with the company as President and CEO of the division. As the executive in charge of CBS Radio, Mason will seek to build on the division’s growing ratings and improving financial position.

“Dan is, quite simply, the best executive in the radio business,” said Moonves. “He has unparalleled gifts as a programmer, and knows how to turn that grasp of our on-air product into improved ratings and financial performance. We couldn’t be more pleased that Dan will continue to provide his leadership skills for years to come, joining with Anton and Peter to help make this new local media group a growth engine for CBS.”

The news follows yesterday’s announcement that Peter Dunn has been named President of CBS Television Stations and its 29 station portfolio.

In commenting on the Company’s new Local strategy, Moonves said: “This is a good time for this move. Our TV and radio stations are gaining momentum week by week and are operating from a position of strength. I look forward to working with this creative and seasoned team of managers as we capitalize on the developing recovery and build a new paradigm for the future growth of our local businesses.”

Guitano, a 31-year veteran of CBS, most recently served as Chief Financial Officer and Senior Executive Vice President, Operations, of CBS Radio. Before that he was Executive Vice President of Operations and Chief Financial Officer for CBS Television Stations, a role he held for two years after serving as its Senior Vice President and Vice President of Finance. He also served as Vice President and General Auditor for CBS Inc., Controller for the CBS Television Network, Controller for the CBS Television Stations Group, and as Senior Audit Director, Audit Director and Audit Manager for the CBS Internal Audit Department. He got his start at Price Waterhouse.

Mason returned to CBS Radio in April 2007 after a five year hiatus as an adviser and consultant to the division. He previously served as President from 1995-2002, where he helped grow the division into one of the largest station portfolios in the business. Mason joined Westinghouse as President of Group W Radio in 1993. He began his career in radio in 1975 at WZGC-FM in Atlanta. In 1977, he moved to WPGC-FM in Washington, D.C., where he was that station’s Program Director as well as National Program Director for First Media, the parent company. In 1979, at the age of 27, he was named Vice President/General Manager of KTSA/KTFM in San Antonio. Mason later returned to First Media where he was named Executive Vice President. When First Media became Cook Inlet Radio Partners, he was named that organization’s President in 1988.

Dunn most recently served as President and General Manager of WCBS-TV New York, the flagship of CBS Television Stations. Before that he was President of Sales for CBS Television Stations, as well as President of its spot sales operations. Dunn previously served as President and General Manager of CBS’s Philadelphia stations KYW and WPSG. Before coming to CBS Dunn served as Executive Vice President of Sales and Senior Vice President of Sales and Marketing for the NBC Television Stations Division. He also worked as local sales manager, national sales manager and account manager for WNBC-TV, which he joined in 1997. From 1987-1997, Dunn worked at the ABC Television Network as an account executive for both ABC Spot Sales and WABC-TV. He also worked as a sales manager for Katz TV in Boston, and served as national sales manager for WHEC-TV in Rochester, NY.