CBS missed its internal deadline to appoint a new CEO, no decision to take

Sometimes you swing and miss.

Originally, CBS was looking for a diverse candidate with the appropriate experience to lead a large media company in a changing industry. CBS could not find this person, according to two people familiar with the process.

More recently, the CBS Board of Directors, chaired by President Strauss Zelnick, was looking for a senior executive who had previously served as CEO and with previous experience of integrating mergers and acquisitions, according to close badociates. folder. This candidate may also not exist or be made available to CAS.

CBS interviewed Brian Goldner, current board member and CEO of Hasbro, according to people close to the case. But Goldner's experience is not about the media and he already has a job. Two other candidates were removed from office either because they had neither the CEO experience nor the mergers and acquisitions background, said two people. The extension of the search allows CBS to continue searching.

If CBS fails to find a slam dunk candidate, it increases the chances that interim CEO Joe Ianniello will be appointed full-time leader – at least until a merger is completed. Ianniello has not yet seen this job, said two people. Although it is unlikely that he will be named CEO of a CBS-Viacom combined group, he could be Bakish's No. 2 in a CBS-Viacom combined group, officials said. .

CBS never sets a firm deadline, it also allows him to find people who may not be interested or available for several months. The next "deadline" (in quotation marks) from CBS will be its quarterly earnings, scheduled for May 2nd. If there is an announcement – perhaps a joint announcement on the plans of CEO and Merger – May 2 makes sense. Because CBS knows every question in its results, the conference call will focus on the future of the company.

But even May 2nd is not a difficult deadline. CBS could answer questions about the future of the company because the board will not participate in the teleconference and the executives do not have a say in the appointment of the next CEO.

The deadline is June 30th. It is at this point that Ianniello's contract as interim CEO comes to an end.

If you are waiting for an announcement at the edge of your seats, you may want to loosen the seatbelt.

A spokesman for CBS declined to comment.

WATCH: Viacom CEO outlines distribution strategy