CBS CEO Les Moonves said he thinks LIN Media made a mistake by losing the CBS affiliation at its station in Indianapolis last month.
Moonves, speaking at the Goldman Sachs 23rd Annual Communacopia Conference in New York Wednesday, said CBS and LIN had different ideas about how much reverse compensation the network was entitled to in the market. Tribune agreed with CBS’ valuation and the affiliation moved after 46 years.
“The amount we were asking wasn’t extraordinary,” Moonves said, particularly considering that CBS carries games of the Indianapolis Colts and the NCAA Basketball Tournament. “I think LIN made a mistake. Tribune came in and paid the right price.”
Moonves also noted that after the Indianapolis affiliation moved, “every other station we were negotiating with fell into place,” and the value of CBS content was established.
CBS expects to generate about $2 billion in retransmission consent fees and reverse compensation by 2020.
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