UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. )*



CBS Corporation

(Name of Issuer)

 

Class A Common Stock, par value $.001 per share

(Title of Class of Securities)

 

124857103

(CUSIP Number)

 

 

November 11, 2014
(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

o Rule 13d-1(b)

x Rule 13d-1(c)

o Rule 13d-1(d)

 

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

CUSIP No.  124857103
 SCHEDULE 13G
Page 2 of 11 Pages

 

         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 
GRUSS GLOBAL INVESTORS MASTER FUND, LTD.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
CAYMAN ISLANDS EXEMPTED COMPANY
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
636,442
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
636,442
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
636,442
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
1.68%
12
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 

 
 

CUSIP No.  124857103
 SCHEDULE 13G
Page 3 of 11 Pages

 

         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 
GRUSS GLOBAL INVESTORS MASTER FUND (ENHANCED), LTD.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
CAYMAN ISLANDS EXEMPTED COMPANY
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
1,265,351
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
1,265,351
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,265,351
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
3.34%
12
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 

 
 

CUSIP No.  124857103
 SCHEDULE 13G
Page 4 of 11 Pages

 

         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 
GRUSS CAPITAL MANAGEMENT LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE LIMITED PARTNERSHIP
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
1,901,793
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
1,901,793
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,901,793
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.02%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IA

 

 
 

CUSIP No.  124857103
 SCHEDULE 13G
Page 5 of 11 Pages

 

         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 
GRUSS MANAGEMENT, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE LIMITED LIABILITY COMPANY
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
1,901,793
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
1,901,793
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,901,793
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.02%
12
TYPE OF REPORTING PERSON (See Instructions)
 
OO

 

 
 

CUSIP No.  124857103
 SCHEDULE 13G
Page 6 of 11 Pages

 

         
1
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 
SEAN DANY
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
1,901,793
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
1,901,793
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,901,793
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.02%
12
TYPE OF REPORTING PERSON (See Instructions)
 
IN

 

 
 

 

CUSIP No.  124857103
 SCHEDULE 13G
Page 7 of 11 Pages

 

Item 1.(a) Name of Issuer

CBS Corporation

(b) Address of Issuer’s Principal Executive Offices

51 West 52nd Street, New York, New York 10019

Item 2.(a) Name of Person Filing

(i) Gruss Capital Management LP, a Delaware limited partnership ("Gruss LP"), which serves as the investment manager to, and has investment discretion over the securities held by, Gruss Global Investors Master Fund, Ltd., a Cayman Islands Exempted Company ("GGI"), and Gruss Global Investors Master Fund (Enhanced), Ltd., a Cayman Islands Exempted Company ("GGIE"), with respect to the common stock of CBS Corporation (the "Issuer") directly held by GGI and GGIE;

(ii) Gruss Management, LLC, a Delaware limited liability company ("Gruss"), which serves as the general partner to Gruss LP with respect to the Issuer's common stock directly owned by GGI and GGIE;

(iii) Gruss Global Investors Master Fund, Ltd., a Cayman Islands Exempted Company, which has shared voting and dispositive power over 636,442 shares of the Issuer's Common Stock;

(iv) Gruss Global Investors Master Fund (Enhanced), Ltd., a Cayman Islands Exempted Company, which has shared voting and dispositive power over 1,265,351 shares of the Issuer's Common Stock; and

(v) Sean Dany, managing member and principal owner of Gruss.

(b) Address of Principal Business Office, or, if none, Residence

510 Madison Avenue, 16th Floor, New York, NY 10022

(c) Citizenship

Gruss Capital Management LP: Delaware Limited Partnership

Gruss Management, LLC: Delaware Limited Liability Company

Gruss Global Investors Master Fund, Ltd.: Cayman Islands Exempted Company

Gruss Global Investors Master Fund (Enhanced), Ltd.: Cayman Islands Exempted Company

Sean Dany: USA

 

 (d) Title of Class of Securities

Class A Common Stock, par value $.001 per share

 (e) CUSIP No.:

124857103

 
 

 

CUSIP No.  124857103
 SCHEDULE 13G
Page 8 of 11 Pages

 

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
 
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
 
  (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
 
  (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
  (e) o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
  (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
  (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
  (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
  (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
 
  (k) ¨ A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                            
       

 

 
 

 

CUSIP No. 124857103
 SCHEDULE 13G
Page 9 of 11 Pages

 

 

Item 4. Ownership

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:

 

Gruss Global Investors Master Fund, Ltd.: 636,442

Gruss Global Investors Master Fund (Enhanced), Ltd.: 1,265,351

Gruss Capital Management LP: 1,901,793

Gruss Management, LLC: 1,901,793

Sean Dany: 1,901,793

 

(b) Percent of class:

Gruss Global Investors Master Fund, Ltd.: 1.68%

Gruss Global Investors Master Fund (Enhanced), Ltd.: 3.34%

Gruss Capital Management LP: 5.02%

Gruss Management, LLC: 5.02%

Sean Dany: 5.02%

 

Calculation of percentage of beneficial ownership is based on 37,849,903 outstanding shares of the Issuer's Common Stock as reported by the Issuer on its Form 10-Q filed on November 5, 2014.

 

(c) Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

Gruss Global Investors Master Fund, Ltd.: 0

Gruss Global Investors Master Fund (Enhanced), Ltd.: 0

Gruss Capital Management LP: 0

Gruss Management, LLC: 0

Sean Dany: 0

 

(ii) Shared power to vote or to direct the vote:

Gruss Global Investors Master Fund, Ltd.: 636,442

Gruss Global Investors Master Fund (Enhanced), Ltd.: 1,265,351

Gruss Capital Management LP: 1,901,793

Gruss Management, LLC: 1,901,793

Sean Dany: 1,901,793

 

(iii) Sole power to dispose or to direct the disposition of:

Gruss Global Investors Master Fund, Ltd.: 0

Gruss Global Investors Master Fund (Enhanced), Ltd.: 0

Gruss Capital Management LP: 0

Gruss Management, LLC: 0

Sean Dany: 0

 

(iv) Shared power to dispose or to direct the disposition of:

Gruss Global Investors Master Fund, Ltd.: 636,442

Gruss Global Investors Master Fund (Enhanced), Ltd.: 1,265,351

Gruss Capital Management LP: 1,901,793

Gruss Management, LLC: 1,901,793

Sean Dany: 1,901,793

Item 5. Ownership of Five Percent or Less of a Class

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

Item 6. Ownership of More Than Five Percent on Behalf of Another Person

 

Not Applicable

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

 

Not Applicable

Item 8. Identification and Classification of Members of the Group

 

Not Applicable

Item 9. Notice of Dissolution of Group

 

Not Applicable

Item 10. Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

 
 
CUSIP No.  124857103
 SCHEDULE 13G
Page 10 of 11 Pages

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: November 13, 2014

 

 

  Gruss Management, LLC
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Capital Management LP
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Global Investors Master Fund, Ltd
  By: Gruss Capital Management, LP, its Investment Manager
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Global Investors Master Fund (Enhanced), Ltd.
  By: Gruss Capital Management, LP, its Investment Manager
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Sean Dany
       
  By:   /s/ Sean Dany
    Name:    Sean Dany
    Title:  Managing Member, Gruss Management, LLC
 
 
CUSIP No.  124857103
 SCHEDULE 13G
Page 11 of 11 Pages

 

 

JOINT FILING AGREEMENT

PURSUANT TO RULE 13d-1(k)

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

 

Date: November 13, 2014

 

 

  Gruss Management, LLC
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Capital Management LP
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Global Investors Master Fund, Ltd
  By: Gruss Capital Management, LP, its Investment Manager
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Gruss Global Investors Master Fund (Enhanced), Ltd.
  By: Gruss Capital Management, LP, its Investment Manager
  By: Gruss Management, LLC, its General Partner
       
  By:   /s/ Howard Guberman
    Name:    Howard Guberman
    Title:  Managing Member

 

  Sean Dany
       
  By:   /s/ Sean Dany
    Name:    Sean Dany
    Title:  Managing Member, Gruss Management, LLC