FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Straka Angeline C 		2. Issuer Name and Ticker or Trading Symbol

CBS CORP [ CBS, CBS.A ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
SVP, Deputy GC and Secretary
(Last)          (First)          (Middle)

51 WEST 52ND STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/27/2012
(Street)

NEW YORK, NY 10019
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
CBS Class B common stock   2/28/2012     M    24927.0000   A $5.2   98791.0000   D    
CBS Class B common stock   2/28/2012     M    6000.0000   A $ 0   (1) 104791.0000   D    
CBS Class B common stock   2/28/2012     F    3020.0000   D $29.99   101771.0000   D    
CBS Class B common stock   2/28/2012     S    24927.0000   D $30   76844.0000   D    
CBS Class B common stock   2/27/2012     I    1474.0000   D $29.83   1503.0000   I   By 401(k)  
CBS Class B common stock   2/28/2012     I    1474.0000   D $29.99   29.0000   I   By 401(k)  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy)   (2) $5.2   2/28/2012     M         24927.0000    2/24/2010   (3) 2/24/2017   CBS Class B common stock   24927.0000   $ 0   24928.0000   D    
Restricted Share Units   (4)   (5) 2/28/2012     M         6000.0000    2/28/2009   (5)   (5) CBS Class B common stock   6000.0000   $ 0   0.0000   D    
Class B Phantom Common Stock Units     (6) 2/27/2012     I         3035.1780      (6)   (6) CBS Class B common stock   3035.1780   $29.83   3034.9430   I   By Excess 401(k)  
Class B Phantom Common Stock Units     (6) 2/28/2012     I         3034.9430      (6)   (6) CBS Class B common stock   3034.9430   $29.99   0.0000   I   By Excess 401(k)  

Explanation of Responses:
( 1)  On February 28, 2012, the closing price of the CBS Class B common stock on the NYSE was $29.99.
( 2)  Right to buy under Issuer's long term incentive plan.
( 3)  These options vest in four equal annual installments beginning on February 24, 2010.
( 4)  Granted under the Issuer's long term incentive plan.
( 5)  The Restricted Share Units vest in four equal annual installments beginning on February 28, 2009 and are settled by delivery of a corresponding number of the Issuer's shares upon vesting.
( 6)  Phantom common stock units are payable in cash following the Reporting Person's retirement or other termination of service pursuant to the Issuer's Excess 401(k) Plan for Designated Senior Executives. Each CBS Corporation Class B Phantom common stock unit is the economic equivalent of one share of CBS Corporation Class B common stock.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Straka Angeline C
51 WEST 52ND STREET
NEW YORK, NY 10019

SVP, Deputy GC and Secretary

Signatures
/s/ Angeline C. Straka 2/29/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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