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Manka Bros. Will Not Purchase CBS - Khan Manka, Jr. - The Chairman's Blog

Manka Bros. Will Not Purchase CBS

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les_moonves_julie_chen.jpgGood morning.  Following a dinner I had last night at Cut with Les Moonves and his stunning wife, Julie Chen, I have come to the conclusion that Manka Bros. will not pursue the purchase of CBS.

I have speculated privately with my chief lieutenants at the studio that this might be a good fit considering the horrendously crappy year we have been having at MBS (the last five years really) - but I have decided that even at a relatively cheap and, frankly, embarrassing market cap of $5 billion, it's still not worth the money.  If the price drops to about $500 million, maybe we'll talk again.  Hopefully, the phone call that Les had to make last night to Sumner Redstone went okay.  I know Sumner needs the cash quickly but the timing just wasn't right.

I told Les this doesn't mean he's no longer in my Monthly Mogul Book Club... and we had a good laugh over that.

So my message to Jay McBee and his Television Group team - START DEVELOPING BETTER FREAKING SHOWS!  You have been given a very short lifeline.

khan_jr1_small.jpgKhan Manka, Jr. - Chairman & CEO - Manka Bros. Studios

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David Chang said:

I think that's a good move, Khan. The market hasn't been kind to our stock either. I don't know where we would have gotten the money if you said yes.

David Chang - CFO - Manka Bros. Studios

Hollywood Producer said:

I seriously doubt you could buy CBS for the market cap price. I don't see anyone getting it for less than $10 billion.

About Khan Manka, Jr.

Khan Manka, Jr. - Chairman & CEO - Manka Bros. StudiosKhan Manka, Jr. assumed the title of Chairman of the Board of Manka Bros. Studios - The World's Largest Media Company - following his father Harry Manka's death in 1976. Before that he was the member of several Southern California rock bands.

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