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CBS-CSTV Deal Done

1/05/2006 9:17 AM Eastern

CBS Corp. said Thursday that it has completed its $325 million acquisition of CSTV Networks Inc., originally announced Nov. 3.

CSTV will continue to operate as its own division, with cofounder Brian Bedol remaining its CEO, reporting directly to CBS CEO Leslie Moonves.

“We’re extremely excited to officially welcome CSTV into the CBS family,” Moonves said in a prepared statement. “Now that we have completed this acquisition, we can move ahead full-force in growing CSTV's digital-cable network, as well as integrating CSTV's high-growth Internet properties into the CBS digital-media platform.”

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