CBS' Moonves Says Campaign Spending Is on Track

CBS stations see big spending in California, Pennsylvania

CBS CEO Les Moonves says political spending at CBS’ TV station group is on track.

Moonves, speaking at the Goldman Sachs Communacopia Conference in New York Tuesday, said he was surprised by Sinclair’s warning that political spending wouldn’t be as strong as expected.

“We have no revenue warning here,” Moonves said.

Moonves noted that spending on the race at the top of the ticket might not be as strong as expected because “Mr. Trump doesn’t appear to be spending as people had thought,” but that was being made up by spending on state and local races and by spending on issues.

“Issues spending is tremendous in California,” Moonves said, adding that Pennsylvania was also strong.

After hearing about Sinclair’s warning, Moonves said he checked with his station group head. He said “we’re doing great,” Moonves said.

“Their stations are in different markets, but we’re in good shape,” he said.