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Moonves: B o A a Friend to Local TV

With New York’s financial institutions crumbling, the Wall Street debacle loomed large over CBS Corp. boss Leslie Moonves’ presentation at the Goldman Sachs media conference yesterday at the Grand Hyatt in Manhattan. Moonves found a silver lining amidst the shakeup of the Wall Street landscape: Bank of America is a significant advertisers of its financial services on television stations, much more so than Merrill Lynch, which B o A is acquiring in a fire sale, and Lehman Brothers, which filed for bankruptcy. So if one of the three outfits had to come out on top, Moonves said it’s good for local television that B o A did. 

"I think this weekend was good for us," Moonves said, then made it very clear that he was kidding.

Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.