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CBS Cutting 40-Plus Jobs; Layoffs Connected To CSTV Re-Org, Rebranding

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We have learned that CBS (NYSE: CBS) has laid off about 40-plus employees in connection with the integration of College Sports Television (CSTV) unit into CBS Sports and its rebranding as the CBS College Sports Network, slated for completion in March. CBS bought CSTV in late 2005 for $325 million in stock. Last month, the unit was stripped of its independent status and folded into CBS Sports. As part of that change, CSTV founder Brian Bedol’s job of running the unit was handed over to Tony Petitti, EVP and executive producer of CBS Sports. The new arrangement called for Bedol to help with the transition and then serve as a