CBS chief Moonves: Hulu model doesn't work - yet

Don't hold your breath waiting for CBS programming to come to Hulu, the network's president and CEO, Les Moonves, says until he gets more than "only pennies" from his shows appearing online he just doesn't think the business model will work for broadcasters.

Speaking to an audience at The Cable Show in L.A. this week Moonves said that CBS is willing to dabble in alternate distribution platforms like online and mobile "if the model fits what we do." But, he added, "The problem is, I'm only getting pennies online. If too many people shift to online, I'm not going to be able to produce CSI," which, he said, costs $3 million to produce each episode.

"That's why we're not on Hulu," Moonves said. "And until the model works, we won't be."

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