If Les Moonves were a playing craps at a Las Vegas casino, he'd be the guy with the dice on a hot streak. You would put your chips down to let it ride and that's exactly what the CBS Corporation did. CBS has given president and CEO Leslie Moonves a new contract through February 22, 2015. He's being asked to keep on doing just what he's been doing, that is keeping CBS as a powerhouse network. They want him to continue being the anti-Jeff Zucker. Moonves with the Midas Touch is how you might describe him because things are just good and getting better at the Tiffany network.

Executive Chairman Sumner Redstone had nothing but good things to say about Moonves in the Wall Street Journal story about the new contract. He said, "This agreement not only secures the future of the company for many years to come, it also further aligns and strengthens the interests of the chief executive with those of our shareholders."

Oh sure, the demographics say that NBC hits a sweet spot that CBS doesn't, as does ABC and Fox with some shows, but the fact remains that CBS is the most-watched American television network. That's total viewers. And, in an era when the numbers are spun every which way but loose to make some shows look more successful than others, the success on nearly every night of television for CBS product cannot be denied. Whether it's the emergence of 'The Big Bang Theory' or the growth boom by 'NCIS' seven years into its run or the new 'Undercover Boss' getting big numbers... CBS is a network with few soft spots.

[Actually, we've been corrected: Shannon Jacobs, VP, CBS Communications asked us to clarify some points about demographics."Not only is CBS ahead of NBC, we are also ahead of ABC ['American Idol' keeps Fox in the driver's seat]. This season we are second with a 3.3/9, ahead of both NBC (2.9/8) and ABC (2.7/7). We have been second (or tied for second) in adult 18-49 since the 2006-2007, and NBC has been 4th in 18-49 since the 2004-2005 season."]

And credit for much of that success goes to Les Moonves. He deserves the contract extension and will probably live up to the bar he's set for excellence in television entertainment. In this day of wobbly leadership, he's an ace in the hole.