Tisch Calls CBS Baseball Contract ‘a Mistake’:...

Tisch Calls CBS Baseball Contract ‘a Mistake’: CBS Inc. Chairman Laurence A. Tisch called the network’s $1.06-billion four-year baseball contract “a mistake,” explaining “we needed something to bolster the network.” The comments came in response to a shareholder’s question at the company’s annual meeting in New York. Tisch told the shareholders: “Was it a mistake? Certainly. Would we do it again at that level? No. Is it a disaster? No. I’m not defending the baseball contract. If I had my druthers, I wouldn’t do it again.” CBS lost between $75 million and $80 million during the first year of the contract this past season.