On another episode, the show welcomed blacklisted folk singer Pete Seeger — he’d been banned from television for years. He sang his “Waist Deep in the Big Muddy,” a song widely understood to ridicule President Lyndon Johnson for the Vietnam War. CBS refused to air the segment, but Tom and Dick brought Seeger back and he sang it again, this time making the air. Segments like these, along with others poking fun at religion, racism and the establishment, led to CBS giving the brothers the ax.
The song started out with clips from other US war protest songs going back to the 1800s: https://youtu.be/qHETC5qAnqo?si=7OIaA0nxsy3h0rlH
Edit link to article: https://www.cracked.com/article_40618_the-late-tommy-smothers-was-canceled-back-when-that-meant-something.html
Incorrect. CBS owned and operated a tv and radio manufacturing arm, acquired Fender musical instruments and rolled their separate manufacturing arm under the Fender design name. They bought toy companies, the X-Acto knife company, all again making stuff while owned wholly by CBS.
CBS even had its own R&D lab which ran for 50 years, again killed in the 80s, including development of military tech.
Then in the 80s the divestment era hit wall st and everything was sold off, including the company itself in the 90s.