Read Leslie Moonves' First Memo to CBS Employees Since Replacing Sumner Redstone as Executive Chairman
"The opportunities are huge, and there is no company more ready to capitalize on them than we are," the executive chairman wrote.
In his first memo to employees since replacing Sumner Redstone as executive chairman, CBS chief executive Leslie Moonves stressed record earnings in 2015 and expressed "confidence for an even better 2016."
The memo, which went out Thursday, wasn't specific about what to expect from Moonves since his promotion on Feb. 3, though he does acknowledge a "complex" media environment with "many challenges" ahead.
Moonves was undoubtedly referring — at least in part — to skinny bundles and cord-cutting, though neither of those issues prevented the TV company from posting impressive quarterly and full-year financial results last week.
"The opportunities are huge, and there is no company more ready to capitalize on them than we are," wrote Moonves.
Here's the entire memo, obtained by The Hollywood Reporter:
This is the first time I’ve communicated with all of you since I was named Chairman of this company a few weeks ago. I assure you that I am aware of what a great honor that is. With that in mind, I’d like to take a few moments to share some thoughts on where we’ve just been and where we’re headed, and offer a few words of thanks to you all.
A lot has certainly gone on recently on all fronts at CBS. In fact, we’ve just come through some momentous events in a very short time frame. On February 11, we informed the financial community about our record Fourth Quarter and Full Year 2015 earnings and our confidence for an even better 2016. Then we brought a great broadcast of Super Bowl 50 to the world, did an extraordinary job on the 58th Annual Grammy Awards — which produced the most daily sign-ups we’ve ever had for CBS All Access — and hosted a spectacular Republican debate that showed once again how CBS News is setting the standard in broadcast journalism. In addition, this past week the CBS Television Network became the first broadcaster in the current ratings era to have every single one of the top ten shows on the air — a remarkable achievement. At the same time, Simon & Schuster also announced the publication of what we’re sure will be one of the most compelling and successful books in years — the new autobiography of Bruce Springsteen. All this on top of last month’s debut of “Billions” on Showtime, the biggest launch in the history of the network. That level of activity might daunt a lesser company. We did a tremendous job on them all.
As we said on our earnings call, what’s even better than our results is how we’re positioned for the future. All signs are very positive for us, and if we continue to do things the way we have, I know it’s going to be a terrific year. True, the media world in which we operate is complex. Many challenges lie ahead. But I also think the opportunities are huge, and there is no company more ready to capitalize on them than we are.
I truly believe that the confidence our Board of Directors showed when it named me Chairman is a reflection of the phenomenal team of executives I work with every day, and of the talent, drive and dedication of every single employee who calls this wonderful company their home.
So thanks for all you do every day to be a part of our ongoing success. This is a great and historic place. We were there at the beginnings of this business, and we are always leading the charge into tomorrow. Working together as we do so well, I know we can make this a great 2016, and carry that momentum forward in the days and years to come.