CBS GOING TO THE MOVIES -- AND INVESTORS APPROVE

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	CBS MOVES TO THE BIG SCREEN Jun 22 2006
	CBS Chairman Les Moonves provided new details Wednesday about his company's plans to begin producing (more)
	COURIC HAS ALREADY PAID FOR HERSELF, SAYS MOONVES Jun 15 2006
	Even before she takes over the anchor's post on the CBS Evening News, Katie Couric (more)
	CBS EXPANDS BROADBAND VIDEO CONTENT May 4 2006
	CBS today (Thursday) launched "Innertube," an ad-supported broadband video site with original programming. It represents (more)

CBS GOING TO THE MOVIES -- AND INVESTORS APPROVE
Monday, June 26 2006

Wall Street has reacted enthusiastically to CBS Chairman Les Moonves announcement last week that the company may reenter the theatrical movie business after more than 20 years, financing and producing films in the $20-50-million range. CBS shares closed Friday at $26.50, up 4 percent over two days and close to its all-time high since last January's split from Viacom. The announcement triggered "buy" recommendations from several analysts, but some observed that the split was intended to focus CBS and Viacom -- which owns Paramount, which owns DreamWorks -- on what each does best. In CBS's case, making TV shows; in Viacom's, making movies. MotleyFool.com commentator Steven Mallas commented Friday, "If I owned CBS, I'd be scratching my head right about now."