NEW YORK - CBS Corp. president and CEO Leslie Moonves said Tuesday the broadcaster would benefit in the short term from its cancellation of "Two and a Half Men," the top-rated sitcom starring Charlie Sheen.

"Short-term, financially it is actually a gainer for us," he said at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco.

"Repeats obviously get somewhat less revenue than the originals. (But) it is a show that repeats very well. Doing eight (fewer) originals saves us quite a bit of money."

CBS and producer Warner Bros. last week canceled the show for the rest of the season in the wake of Sheen's angry outbursts against its producers.

Moonves added that he wished the troubled actor had spent as much time pushing for an Emmy as he has worked the PR machine in recent days.

As for the longer term, Moonves said he hoped the show would return. He pointed out that "Two and a Half Men" helped CBS launch successful new shows such as "Mike & Molly" and "The Big Bang Theory."