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Tuesday, June 23, 2009

Could job cuts and radio station sales be coming to CBS?

That’s the report from Bloomberg News, saying that newly appointed Chief Financial Officer Joseph Ianniello will “scrutinize all expenses, including contracts, leases and capital spending.” Ianniello told Bloomberg, “The only thing you can control as a company, when your top line is revenue and those sales aren’t there, is how can you run your business.” Ianniello was promoted this week from deputy CFO to CFO, replacing the retiring Fred Reynolds. According to CBS Chief Executive Officer Leslie Moonves, Ianniello will be tasked with finding better ways to manage the company, and continuing to sell radio stations and rebuild content assets.

Tags: CBS

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