http://groups.google.com/group/rec.arts.tv/browse_thread/thread/89c932440dc80f9b#

UPDATE: CBS Takes Equity Stake In AXS TV With Plans To Promote Event Programming

By DAVID LIEBERMAN

Is Les Moonves now, once again, Dan Rather’s boss? Well, a little:
Turns out CBS isn’t simply partnering with AXS TV– as the companies
framed the arrangement in their announcement today. The network giant
has an equity stake in the channel formerly known as HDNet, Moonves
told analysts this evening. He didn’t say how much CBS owns of the
network which airs Dan Rather Reports or how much it paid, if
anything. “Having the power of CBS I’m sure we’ll be able to increase
[AXS TV's] affiliate fees, but it won’t be part of our negotiations,”
he said. Moonves added that entrepreneur Mark Cuban’s channel will be
able to offer “shoulder programming” for live events CBS airs; for
example it could have had a show featuring backstage scenes at the
Grammy Awards. “It’s a very exciting new prospect for us.” Cuban’s
partners at AXS include AEG, Ryan Seacrest Media and Creative Artists
Agency.