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Memo: Leslie Moones

I wanted to share some important news with you today. This morning we announced that Nancy Tellem, President of the CBS Network Television Entertainment Group, will transition to an important new role in our company as Senior Advisor to the CEO, CBS Corporation.  In her new role, Nancy will explore the expanding growth opportunities that are appearing every day in our changing business, both in the U.S. and abroad as well.  The appointment will be effective January 1, 2010, and will report directly to me.

In this new position, Nancy will step back from the day-to-day operations and dedicate her efforts to business and strategic opportunities in the areas of content partnerships, new production models, developing technologies and emerging media.  In addition to her new responsibilities, she will also continue to oversee CBS’s interest in The CW Television Network, our 50/50 joint venture with Warner Bros. (NYSE: TWX) Entertainment.

This move is the product of many lengthy, thoughtful discussions between Nancy and me about what her next step here would be, and what role she might take that would best utilize her considerable experience and talent.  Nancy is a very gifted executive.  She and I have worked together for more than 20 years, both at CBS and Warner Bros.  She is a friend, colleague and trusted advisor who has been instrumental in the growth and success of our television business.  She has been looking for a new challenge and is very passionate about this transformative time in our business.  I am very much looking forward to the contributions she will make as we all work together to maintain and grow our position as a leading content company in the 21st century. 

The timing for this transition couldn’t be better.  Nancy and the respective teams have helped lead CBS Television Studios and CBS Entertainment to great heights.  These divisions are in amazing positions of strength with outstanding programming and exceptional leaders in Nina Tassler and David Stapf.  These divisions will continue to operate under Nina and David’s fine leadership.

Please join me in thanking Nancy for all her great contributions to CBS and welcoming her in this new role with the Company.  I know she’s excited to step back from the desk, look toward the future and help the Company explore its many opportunities.