Did TBS "overpay" for Conan?

A report today indicates that TBS, which recently signed a deal with Conan O'Brien to take over its 11 PM time slot, is asking for network-sized bucks from potential advertisers.

"They are trying to get NBC's late-night [rate] for Conan," one cable executive told the New York Post. "They are being very aggressive with that."

A source told the Post that TBS "is asking for rates that are 20 percent to 25 percent higher than typical rates for late-night," adding, "It's insanity... [O'Brien] is a high-priced property that they clearly overpaid for."

Despite the fact that popular cable channels would like to achieve parity with the four major broadcast networks, advertisers are still willing to pay more to place their spots on ABC, CBS, FOX and NBC.

"They're not going to get [the higher rates]," an ad buyer said. "They have been posturing and trying to position it for months."