From the Globe and Mail:
It’s one of the fastest-growing, most lucrative departments at CBS Corp. right now. But the company’s president, Les Moonves, has a far more blunt way to describe how the network has turned March Madness basketball into an Internet gold mine.
“People sit at their computers and waste away their afternoons watching basketball games while their bosses are looking the other way,” Mr. Moonves told analysts recently in New York.
When asked about the advertising dollars CBS expects this year from online broadcasts of the annual U.S. college tournament starting today, Mr. Moonves simply added: “We are having our best year, by far. Ever.”