DAL Ch.11 hurts more than the airline Viacom's CBS Plans Digital Multicasting Wednesday September 14, 6:14 PM EDT SAN FRANCISCO (Dow Jones) -- Viacom (VIA) Co-Chief Operating Officer Les Moonves told investors Wednesday that CBS plans to begin digital multicasting in all of its markets by fall 2006. "There will be a 'CBS 2'" in each of those markets, Moonves said, noting that top executives just had a meeting about multicasting last week. The expanded bandwidth of digital technology makes it possible to fit several channels onto one broadcast signal. Speaking at the Merrill Lynch Media & Entertainment Conference in Pasadena, Calif., Moonves also said that over the next few years, it is possible that there could be a "CBS 3, 4 and 5" in each market. "I think that's the wave of the future." Possible programming might include national news, local news and sports, the Viacom (VIA) operating officer said. Choose a schoolUniversity of PhoenixWalden UniversityKaplanEllis UndergradDevry OnlineJones InternationalKWUKeller Grad School of Management Choose a programBusinessMBAComputers & ITHealth & MedicineEducationEngineeringCriminal JusticeAssociates DegreesCanadian Residents Moonves said the network is working on ways to exploit the advertising opportunities that would be available on the additional channels. Despite an industry-wide advertising slump in 2005, Moonves indicated that ad sales at Viacom's (VIA) television stations will be strong next year, with ratings growth in local news, strong prospects in syndicated programming and political ads that will be sold in an election year. Moonves, who will head the new CBS Corp. after Viacom (VIA) (VIAB)(VIA) splits into two entities sometime next year, said the company does not anticipate any major acquisitions in the near future, though if certain "tuck-in" properties become available in the Internet sector, CBS could consider them, if such deals would be accretive to shareholders. Viacom's (VIA) Class B stock closed at $34.33, down 3 cents, ahead of Moonves' remarks. Also at the conference on Wednesday, Walt Disney Co. Chief Financial Officer Thomas Staggs said that his company still expects to post double-digit earnings growth in fiscal 2005 compared with the previous year. Despite an estimated fiscal fourth-quarter loss of as much as $300 million at its studio operations, improved ratings and advertising revenue at ABC and ESPN will help to bolster results, Staggs added. He cautioned that the company's growth projection excludes the possibility of having to write off its investment in Delta Air Lines Inc. (DAL) (DAL), including $100 million in airplane leases, given Delta's current financial problems. Staggs said that Disney has not seen any meaningful impact from Hurricane Katrina, but will "continue to monitor and assess" any potential impact. Asked if Disney plans to expand its new theme park in Hong Kong, which has been described as somewhat cramped in various press reports following its launch this week, Staggs said the venue is designed to be expanded over time. The park is off to a strong start, he added, and Disney will determine how and when to make it bigger in the years ahead. Disney stock closed at $24.11, down 70 cents, or 3%. Roger EWROPS