Moonves Signs Contract Extension at CBS

Leslie Moonves, the chief executive of the CBS Corporation, will remain in his position through 2017, according to the terms of a contract extension announced on Monday evening.

His new contract is set to expire in June 2017, superseding the previous deal with Mr. Moonves that was announced in early 2010. At that time his contract was set to expire in 2015.

Sumner Redstone, the CBS executive chairman, said in a statement, “I look forward to all Leslie will continue to do as the genius that he is.”

Mr. Moonves has led CBS through a decade of enviable prime time ratings and overall profits. This year he received a $3.5 million base salary, a $27.5 million bonus and nearly $40 million in stock awards and other compensation. With the new deal he will continue to receive the same base salary and be eligible for bonuses and awards.

Adele Leads Record Label to $67 Million Profit

Over the last 20 months, as Adele's album “21” spent week after week in the Top 10 - a total of 79 weeks in the United States, with 24 of them at No. 1 - envious record executives have, between salivations, wondered what kind of profit all those sales would bring.

That number has been now revealed: nearly $67 million, according to recently filed accounts by Adele's label, XL Recordings. And that's just for last year. (Nor does that number include Adele's songwriting royalties or concert fees, in which neither XL nor its parent company, Beggars Group, have any interest.)

XL had $181 million in revenue in 2011, up about 400 percent from the $36 million it reported the year before. The label had $66.9 million in operating profit, before taxes, and ended the year with just less than $60 million in cash.

“We've sold 25 million copies of '21' around the world,” Martin Mills, the chairman of Beggars Group, said in a telephone interview on Monday. “And when you sell that many records everyone makes money. Not just Adele and the label, but distributors, retail, everyone.”

XL had nine releases in 2011, including albums by the Horrors, Friendly Fires and Tyler, the Creator. But of course “21” - the top seller around the world, with more than 18 million total sales by the end of last year - was the label's rainmaker. (By comparison, 4AD, which like XL is half-owned by Beggars Group, had about $15 million in revenue and eight new releases.)

For its success, XL paid $27.3 million in dividends, half of which went to Richard Russell, one of its founders, and the other half to Beggars. In its own accounts, filed with British regulators, Beggars - which in addition to XL and 4AD has full or part ownership of Rough Trade, Matador and other labels - reported $138 million in revenue for the year and $37 million in operating profit.

Mr. Mills said Beggars' share of the XL divid end would go “to invest in our future.” The companies' finances were reported by The Sunday Times of London.

Adele, whose real name is Adele Adkins, has a contract with XL that gives the label worldwide rights to release her recordings. But in the United States it licenses her music to Columbia Records, which XL executives have said is better equipped to handle radio promotion and marketing on a large scale.

The success of “21″ has continued into 2012, with 4 million sales since the beginning of the year in the United States alone, bringing its total here to about 125,000 shy of 10 million - a gap that, at the album's current sales rate, Adele will likely close by the end of the year. This month she also released “Skyfall,” the theme to the new James Bond movie, and the song currently stands at No. 2 on iTunes' ranking in the United States.

Even so, XL's report includes a note of caution about future earnings.

“The next Adele album may n ot come for some years, and it's impossible to predict its likely sales,” the company said. “We therefore regard this year's figures as exceptional.”

Ben Sisario writes about the music industry. Follow @sisario on Twitter.

\'Walking Dead\' Sets New Ratings Record on AMC

“The Walking Dead,” AMC's hugely popular drama, became the biggest hit of the fall television season Monday night, with the premiere of its third season posting ratings that surpassed every other non-sports program on television in most viewing categories.

The show attracted 10.9 million total viewers for its 9 p.m. initial airing: that beat every entertainment show on every broadcast network Sunday night, topped only by NFL football on NBC â€" and possibly “60 Minutes on CBS. (The overnight figures for the 7 p.m. hour on CBS included both some NFL games and 60 Minutes.”)

More significantly, “Dead” pulled in 7.3 million viewers between the ages of 18 and 49, the category that advertisers most prefer. Not only did that beat just about everything else on Sunday, except football, it beat everything else in non-sports programming that has been on television so far this fall. That means it ranks above such hits as “Modern Family” on ABC (7 million), “The Big Bang Theory” on CBS (6.3 million) and “The Voice” on NBC (6.1 million.)

The season three premiere puts “The Walking Dead” at the top of all dramas in the history of basic cable television. With those 10.9 million viewers, the series tops its own previous record, set by the show's finale last season, of 9 million. The viewing figures were up 50 percent over last season's premiere.

And all of these numbers were for the first telecast of the episode. “Dead” was repeated at 10 p.m. and attracted another 3.5 million viewers, and again at midnight, with 850,000 more. Overall, the show was seen by 15.2 million viewers on the night. That number is sure to expand significantly, however, when the figures for delayed viewing on digital video recorders are counted.

Redesigns Create Deals on New-Car Leftovers

Associated PressMark Fields, Ford's president of the Americas,  with a 2013 Ford Fusion.

Fall is usually a good time to buy a car because it's the end of the model year, but even better deals are available if you're willing to buy a model that is about to be discontinued or redesigned, Edmunds.com advises.

Current-year models of these cars are cheaper because while you be driving a new car, you'll soon be driving one that's visibly outdated. (It's like buying a dress that was in style last year but not necessarily this year, Edmunds suggests). But if you're not a slave to fashion, you can likely buy a nice, new car at a lower price.

Edmunds has created a li st of about a dozen cars that are likely to be discounted and that may also have incentives and rebates to lure buyers. Many such offers are regional, so prices in your area may vary.

One downside is that when carmakers introduce a redesign, the previous year's model tends to depreciate more quickly, which can make selling it more difficult later on. But if you're planning to keep the car for a long time, that's less of a concern.

Some cars are getting full redesigns, while others are getting tweaks. Cars that Edmunds suggests checking out include the Ford Fusion. A fully redesigned and slightly bigger Ford Fusion is arriving for the 2013 model year, which will put pressure on dealers to sell the popular 2012 Fusions.

The 2012 Chevrolet Impala is another possibility. It has been six years since the Impala had a significant update, Edmunds.com notes, and a redesign will arrive with the 2014 model year, which is scheduled to have its debut early in 2013. The 2012 Chevrolet Malibu is another candidate, because an all-new version is arriving this fall.

Other models to check out: 2012 Ford Mustang; 2012 GMC Acadia; 2012 Lexus ES 350; 2012 Nissan Altima (check for leasing specials in particular); 2012 Nissan Pathfinder; 2012 Toyota Avalon; 2012 Chevrolet Traverse; 2012 Ford Escape; and 2012 Hyundai Santa Fe.

One more caveat: A redesign doesn't always mean big bargains. The Honda Accord has been redesigned for the 2013 model year, but because the car is so popular, incentives are likely to be modest for the 2012s, Edmunds notes. But it's still worth negotiating.

Are you in the market for a new car? Would you consider a soon-to-be outdated model?

Try to Focus on Your Personal Economy

Carl Richards

Carl Richards is a certified financial planner in Park City, Utah, and is the director of investor education at BAM Advisor Services. His book, “The Behavior Gap,” was published this year. His sketches are archived on the Bucks blog.

As many of the social structures we have relied on in the past for retirement seem to disappear or appear vulnerable (company pensions and Social Security to name two), we're becoming increasingly more responsible for our own financial futures. But at the same time we're overwhelmed with information about how to handle our money.

Never before have we had so much information at our fingertips about how to handle money, and never before have so many of us felt out of control. Sorting th ough this noise is more important than ever before, not only for our financial futures but for our mental health.

Think I'm overstating the problem?

In 2011, IDC Digital Universe published a study, “Extracting Value from Chaos.” It found we have 1.8 zettabytes (1.8 billion terabytes) of data floating around. What does that look like?

• Every person in the United States tweeting 3 tweets per minute for 26,976 years nonstop
• Every person in the world having over 215 million high-resolution MRI scans per day
• Over 200 billion high definition movies (each 2 hours in length), which would take one person 47 million years to watch if that person watched for 24 hours a day
• The amount of information needed to fill 57.5 billion 32 gigabyte Apple iPads.

In 2012, that number is expected to grow to 2.7 zettabytes.

Obviously, it's easy to get distracted. And based on the questions I get, people are really distracted when it comes to money.

• Should I buy this stock?
• What do you think the market will do?
• Will Europe go down in flames?
• Will the economy ever recover?

But what if instead of asking those questions, we asked just these questions:

• How much can I save?
• How is my portfolio allocated?
• Can I pick up some extra work this month?
• Can I start a little business on the side?

By asking these questions we switch our focus to things we have at least some control over. We start to focus on our personal economy, instead of the global economy. Our personal economy becomes the filter for all the noise. Things like Europe, the market, and individual stocks drop off our radar. Instead, we focus on information that helps us with the one thing we can control: ourselves.

Obviously with so much noise, it can be incredibly hard to get this focused. But the so oner you figure out the value of this filter, the faster you'll be able to make sense of the noise.

So besides burying your head in the sand, what have you done to filter the noise?

 

Times to Add Portuguese Language Edition

The New York Times Company, continuing its drive to expand its international presence, is adding a Portuguese language edition next year.

The Web site, intended to bring Times journalism to readers in Brazil, will begin in the second half of 2013. The site will offer content on subjects including business, culture and global affairs, the company said in a statement Sunday evening.

The site will publish 30-40 articles a day from local writers, New York Times staff members and International Herald Tribune staff members, whose articles will be translated from English to Portuguese. The company said it expects to add graphics and multimedia over time and at least one third of the content on the site will be content created exclusively for the Web site.

The site's editor, who has not yet been selected, will report to Joseph Kahn, the foreign editor of The Times. The headquarters for the site will be located in Sao Paulo. The Times also has a bureau in Rio de Janeiro.

“Brazil is an international hub for business that boasts a robust economy, which has brought more and more people into the middle class,” Arthur Sulzberger, Jr., the chairman of The New York Times Company and publisher of The New York Times, said in a statement, “As the world gets smaller and digital technology enables us to reach around the globe to attract readers with an interest in high quality news, Brazil is a perfect place for The New York Times to take the next step in expanding our global reach.”

On Monday afternoon, Mr. Sulzberger was scheduled to speak at the Inter American Press Association General Assembly in Sao Paulo.

The Web site is the latest sign of the company's effort to extend its global reach. The Times's Chinese Web site, which has been in a testing phase since earlier this summer, will have its official debut in November.

Monday Reading: My Phone Number\'s Other Woman

A variety of consumer-focused articles appears daily in The New York Times and on our blogs. Each weekday morning, we gather them together here so you can quickly scan the news that could hit you in your wallet.

• Running in circles with Sears, over a treadmill. (Business)
• My phone number's other woman. (Sunday Review)
• A kiddie kegger? (Sunday Styles)
• Hotel rooms with charm, off the radar. (Travel)
• Hidden gems of Europe. (Travel)
• Veterans mortgage loans surge. (Real Estate)
• Co-op board to buyer: Not at that price. (Real Estate)
• In Miami, wondering about a high-end bubble. (Real Estate)
• Amphibious car still waiting to catch a wave. (Automobiles)
• Scrutiny for home appraisers as market struggles. (Business)
• Billboards of the road get together in Maine. (Wheels)
• Why you should use two-step verification online. (Bits)
• Spring rolls from fall vegetables. (Well)
• Struggl ing with anorexia on the Web. (Well)
• Why we should take fewer pictures of our children. (Motherlode)
• A blogger's care-giving chapter closes. (The New Old Age)
• A risky lifeline for seniors is costing some their homes. (Business)
• HPV vaccine doesn't alter sexual behavior, study finds. (Well)
• Making money from Flickr photos. (Gadgetwise)
• Seeking privacy in a networked age. (Bits)
• Can you do much to prevent a stroke? (Well)

Breakfast Meeting: The Power of TV Debates

With the second presidential debate approaching on Tuesday night, the focus will be on whether President Obama can recover from his lackluster performance in the first debate, which infused new energy into the campaign of Mitt Romney. David Carr notes, in his Media Equation column, how striking it was that “a ritual as old as Lincoln-Douglas'' was able to have such an effect â€" especially since we consume information constantly, and often in small bits.

Michael Shear in The Times provides a guide to how the campaigns will try to shape perceptions in the hours and days after the debate, using tools ranging from Twitter and presidential appearances to a blitz of ads in crucial battleground states.

One of President Obama's most valuable campaign advisers is Stephanie Cutter, Amy Chozick writes in The Times, serving as a “one-woman attack squad'' responsible for getting the message out by saying the things the “candidates can't or won't say.'' She stands out , The Times says, in a campaign mostly dominated by middle-age white men.

The moderator of Tuesday's debate, Candy Crowley of CNN, will again be in the spotlight, just as Jim Lehrer was in Round 1, and the campaigns are already expressing concern about how she views her role, Mark Halperin reports on Time.com.

NPR's “Morning Edition'' remains the highest-rated news show on radio, Brian Stelter writes in The Times, thanks in large part to having adapted to the Web and by installing co-hosts who are in essence reporters, occasionally taking the show on the road.

Ten years after leaving the corporate world during the deteriorating situation at AOL Time Warner, Bob Pittman is back as the chief executive of Clear Channel Communications, The Wall Street Journal writes, and he is predicting big things for radio.

The British Broadcasting Company has been immersed in scandal, Sarah Lyall writes, with several posthumous investigations being conducted into whe ther a former popular television host, Jimmy Savile, sexually abused underage girls.

China in Hollywood, Hailed and Investigated

China Photos, via Getty Images Han Sanping leads the China Film Group, which functions as the Chinese government's guardian of the world's second-largest film market in box-office receipts.

LOS ANGELES - The powerful gatekeeper of China's rapidly growing film world, the China Film Group chairman Han Sanping, will be here on Oct. 30 to receive an award as the China Entertainment Visionary of the Year. He will be honored at the third annual U.S.-China Film Summit, sponsored by the Asia Society of Southern California.

When Mr. Han arrives, it appears there will be a still-unanswere d question waiting: What has become of the investigation by United States officials into possible violations by companies here of the Foreign Corrupt Practices Act in their dealings with Chinese film companies?

Word of the investigation surfaced in April with reports that the Securities and Exchange Commission had contacted a number of Hollywood studios about their business in China.

Mr. Han, whose company is the principal conduit for China's film dealings with foreigners, said at the time that he knew nothing of the investigation, or any improper dealings.

But the China hands on this shore are hungry to know more about the inquiry. In August, Variety reported that Hollywood lawyers, during a panel discussion conducted by the Beverly Hills Bar Association, complained that uncertainty over the investigation was threatening to put deals on hiatus.

Given the enormous expansion in China's entertainment links with Unite d States companies, including the acquisition last month of AMC Entertainment by the Dalian Wanda Group, this year's film event, to be held at Covel Commons on the University of California, Los Angeles, campus, will be a hot one. Those attending include Lewis Coleman, the president of DreamWorks Animation, who, like Mr. Han, will receive an award, and Bruno Wu, the chairman of China's Seven Stars Entertainment.

But it won't be easy to get through the very first panel discussion, titled “Year in Review in Hollywood-China Relations,” without discussing the big question: What's up with the investigation?