Or like CBS itself was back in 1986-1995 when Larry Tisch  was running things. CBS had had a disastrous experience with a programming venture called "CBS Cable," and Tisch -- logically -- didn't want to repeat the experiment. But he went to the opposite extreme, refusing to invest in any non-broadcast programming for the cable industry. He even sold off CBS's only cable holding, a one-third interest in "SportsChannel." It was not until 1997 -- two years after Tisch's departure -- that CBS finally re-entered the cable programming business, with the launch of something called "Eye on People."  Apparently that experiment wasn't successfully either; at any rate, CBS sold "Eye on People" to Discovery Communications two years later.
Of course, CBS' current owner, Viacom, owns numerous non-broadcast programming channels: MTV, MTV2, Nickelodeon, BET, Nick at Nite, TV Land, NOGGIN, VH1, Spike TV, CMT, Comedy Central, Showtime, The Movie Channel, Flix, Sundance Channel. 
------------ References -------------- Douglas Gomery. "TISCH, LAURENCE, U.S. Media Mogul." The Museum of Broadcast Communications.  David Zurawik et al. "Saving CBS News." American Journalism Review, April 1997, 16-23.  Columbia Journalism Review. "Who Owns What: Viacom." Neal McLain