BUSINESS BRIEFING / TELEVISION

Responding to a decline in advertiser spending, CBS plans to cut capital spending to $350 million in 2009 from $500 million in 2008, Chief Executive Leslie Moonves said at an investor conference in Phoenix.

Moonves’ comments came the same day the company announced it had struck a new five-year deal with Time Warner Cable to carry the CBS-owned TV stations and co-owned Showtime pay-TV networks.

As part of the agreement, Time Warner obtained the right to include some CBS programming as part of the cable operator’s time-shifting and video-on-demand services.