CBS Sells Out Super Bowl Ad Inventory

New York -- CBS Corp. president and CEO Leslie Moonves announced
on Tuesday morning that CBS has sold out its ad inventory for Super Bowl XLVII.

"Yes, we are sold out," said Moonves. "But
obviously, if some of those movie companies want to come in at the last minute
and pay us five or six million dollars, we will find a place for you."

Moonves was speaking during CBS' Super Bowl XLVII media
event in New York, where he also touted the record prices his company was able
to secure.

"We have sold some of our spots for the game for over
$4 million for a 30-second spot," said Moonves, who added that WCBS New
York alone has sold spots for "over $1 million" for a 30-second

CBS took longer to sell out its ad inventory than NBC and
Fox did for the previous two Super Bowls, but Moonves said it was part of CBS'
strategy. "You could sell out early cheaper," he said. "If
you're confident that you're going to be able to sell, sometimes you'll hold
the inventory."

He said they started selling ads "exactly a year

"I don't think we ever doubted that we would sell out
or that we would get the kind of prices that we got," said Moonves.
"We've done extremely well with the NFL this year."