Les Moonves: We're worth more, really!

-SDH At Citigroup's Annual Global Entertainment, Media & Telecommunications Conference, CBS CEO Les "Love Boat" Moonves tried to convince Wall Streeters and perhaps himself and Sumner Redstone that CBS's shares are undervalued. Les also assured those in attendance that the looming economic downturn and the ongoing writers strike won't hit CBS. And here we were thinking it was only News Corp that was economic downturn and writer strike proof. Les said that he is still on the prowl for new media acquisitions with growth potential and a founder willing to stay on knowing he/she will be canned in about a year or two after the acquisition. Hey Les how is the music business going for you? The fundamentals of all our businesses are sound," said Moonves, as he launched into a presentation he said was designed to convince Wall Street that his company's shares are undervalued. CBS Corp sees growth in all divisions in 2008: CEO [Reuters]