NEW YORK: Leslie Moonves, chief executive officer of CBS Corporation (pictured) remains upbeat in an increasingly downbeat economic environment, assuring last week's McGraw-Hill Media Summit that his largely ad-reliant network will not stand by and watch its revenues sag because of a recession.
"We [will] do things to change it," Moonves said – without specifying what. CBS wouldn't be like "a lot of guys who know how to lose with a full house."
He said that automotive advertising is down but other categories like pharmaceutical and retail are up. He also claimed that content companies are less likely to be affected by a slowdown.
Data sourced from AdWeek (USA); additional content by WARC staff