CBS boss Les Moonves likes the position his network is in.
While the world of 500 channels is being shrunk to smaller size bundles, Moonves is totally fine with it. "CBS will be part of every bundle," Moonves said Monday at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco. "A smaller bundle is a very good thing."
Moonves was also fairly dismissive of the notion that CBS might be acquired anytime soon, even in an era of media consolidation. He said any potential suitor would have to pay "a very high price" for CBS given speculation that its shares are headed to $100 apiece in the next four years.
The CEO didn't bother to weigh in on the two big mergers trying to get regulatory approval now — Comcast's purchase of Time Warner Cable and AT&T's acquisition of DirecTV — because he said CBS isn't threatened much by either, even though prevailing wisdom suggests that the mergers would give those providers more bargaining power against the content providers.
"People can't live without CBS," he said. "We like the hand we're playing."
Moonves said he also likes owning 27 TV stations, and said he'd buy more if regulatory rules were relaxed.
While other networks seem a bit scared of the future and smaller TV bundles, the CBS boss thinks his network is in a very good place.