Economic slowdown hits Hollywood’s backyard
By Behind The Scenes TV on Mar 24, 2008 in Film Business, Hollywood
What a difference a few weeks makes for Leslie Moonves.
The CBS Corp. CEO said in an earnings call Feb. 28 that he was “not seeing a recession” in day-to-day operations. But at the McGraw-Hill Media Summit on March 14, he was less sanguine about the dreaded “R” word.
“If there’s a downturn in the economy — and clearly there is — and it affects some of our businesses at their fringe, with radio and TV stations, we do things to change it,” Moonves said.
Such is the delicate dance moguls like Moonves are engaging in as they come to grips with the prospect of a recession.
(Hollywood Reporter)
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