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Was CBS too greedy?
HOLLYWOOD - Analysts are questioning CBS's strategy of holding the line against rate cuts in the upfront sales season--although some media buyers are claiming that the network was finally forced to trim its prices, too -- without admitting that it had, the Wall Street Journal reported Monday. "Others certainly acknowledged the laws of supply and demand much sooner than CBS did," Dan Rank, managing partner at Omnicom Group's media-buying unit OMD, told the WSJ. NBC President Randy Falco commented that CBS's initial strategy to resist pressure to lower rates "backfired for them because they lost market share." CBS president Les Moonves maintained, however, that he was "very pleased" with results of upfront sales but declined to discuss specifics.
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