CBS: We're Not Going Bankrupt!

Les Moonves 2

CBS (CBS) fiercely objected to being included in our list of 10 major names veering toward bankruptcy.

Here’s their response:

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“Any suggestion that CBS is currently at risk of bankruptcy is absurd, with no basis in either fact or reason. 

The ironically-named firm Audit Integrity, uses three misleading models for its faulty calculation, two of which are wholly inappropriate for CBS and a third “proprietary” model that was developed for commercial purposes.  

Based on the models they do reveal, the methodology uses out-of-date data and a host of invalid assumptions, including a point-in-time market capitalisation for CBS that is $2 billion below where we are today.  Contrary to Audit Integrity’s “findings,” CBS has an investment grade debt rating, low credit default risk, and a strong debt-to-equity ratio. We urge all credible media outlets and aggregators to report the issue fully, and to challenge Audit Integrity’s flawed pseudo-analysis before blindly regurgitating their misinformation.”

So apparently CBSers don’t need to panic.

See the rest of the 10 companies that are veering toward bankruptcy >

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