CBS' Marty Franks Retiring

Martin Franks, executive VP of planning, policy and government affairs for CBS, is retiring effective Sept. 30.

Franks has been instrumental in CBS' retransmission negotiations and has been a top executive, based out of both New York and Washington. "It is with considerable reluctance that I have accepted Marty Franks' decision to retire, effective Sept. 30. At the same time, of course, I wish him nothing but the very best in that retirement," CBS Corp. president and CEO Leslie Moonves said in an e-mail to staffers.

"The CBS we know today would not have been possible without Marty's contributions over the past 25 years," he wrote. "His achievements are almost too numerous to mention. For example, he was instrumental in enacting Retransmission Consent, and then helped turn it into what is now a fast-growing, nine-figure revenue source for our Company. Marty also played a key role in helping repeal the Financial Interest and Syndication Rules that helped make it possible for broadcast networks to own the programs we air, and then syndicate them both at home and abroad. As a result, our CSI franchise alone has earned more than $3 billion for the Company, and the ownership of content has become a cornerstone of our success.”