CBS fights for its future

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CBS is bringing its majority shareholder, National Amusements, to court Wednesday to fight for independence and stop a merger with cable network Viacom, also owned by National Amusements. At the same time, it’s also hosting its annual UpFront advertising presentation in New York Wednesday evening to convince advertisers that everything is fine.

Why it matters: It’s a historic split-screen moment for CBS. In one state it's fighting to lure marketers to save its linear TV business, and in another it's fighting a merger that would expand its linear TV business.