Moonves inadvertently admits that if Fox had bought Time Warner and had spun off CNN, they would've most likely bought the struggling cable news network. Now, since that option is no longer available, CBS is beefing up their digital network to compete with the big boys in cable news.
Dressed in his Manhattan uniform — black suit, bold tie — he settles in beside his boyish news president, David Rhodes, 40, who has come armed with polling data for the November elections. The two huddle over an iPad as Rhodes walks his boss through a mock-up of the 24-hour digital news network, CBS' answer to CNN, which they're hoping to launch in October. (Since Time Warner rebuffed 21st Century Fox's acquisition attempt this summer, buying a spun-off CNN no longer is on the table.) They go over potential titles and the plan for on-air talent, which will skew younger and more social media savvy than those fronting the network's current news shows. CBS correspondents Elaine Quijano and Jeff Glor will be among the anchors, Rhodes tells him, noting that there will be more names coming. Moonves, leaning forward, voice booming, likes what he sees.As Jim O'Neill of Ooyala says, "The online news channel would live stream content, news CBS already gathers but can’t fit into its current news outlets."
Moonves tells Bloomberg that he hopes to eventually turn this network into an authenticated online channel for pay-TV subscribers.