This excerpt taken from the CBS 8-K filed Nov 21, 2005.
Investing Activities. In 2004, cash used for investing activities from continuing operations of $100.4 million reflected acquisitions of $427.7 million, primarily consisting of the acquisition of 97.8% of VIVA Media AG, the remaining interest in SportsLine.com, Inc. and Outdoor properties and capital expenditures of $402.7 million, offset by the $738.1 million special distribution paid by Blockbuster in the third quarter. Capital expenditures increased $54.3 million, or 16%, to $402.7 million in 2004 principally reflecting investment in systems upgrades and building improvements. Net cash expenditures for investing activities from continuing operations of $1.7 billion for the year ended December 31, 2003 principally reflected acquisitions of $1.3 billion and capital expenditures of $348.4 million principally for broadcasting equipment and outdoor advertising structures.
Acquisitions in 2003 included the acquisition of the remaining 50% interest in Comedy Central for $1.2 billion, as well as the acquisition of a billboard operator in Puerto Rico. Net cash expenditures for investing activities from continuing operations of $1.2 billion in 2002 primarily reflected acquisitions of $818.0 million, principally for KCAL-TV and the remaining interest in