I think CBS's stance may be that this is a large-scale publicly attended Christmas parade marching down wide-open public streets in the the largest city in the USA and it's accessible to anyone, regardless of who the lead sponsor of that parade might be or which broadcast network has traditionally been the primary carrier. Unless Macy's and/or NBC have some type of exclusivity clauses in place, and unless one or both are paying for the thing hook and sinker (cost of blocking off streets, extra law enforcement, lining up, executing and disbanding the parade, have contracts with all parade units and entrants, etc.) CBS may be well within their bounds to televise it, though their cameras are set up in a different part of town than NBC, they may not show certain entries and the CBS version doesn't come with all the hoopla and performances in front of the Macy's store. For all we know, CBS may have some kind of agreement in place with one of the entities mentioned above that allows them to televise the thing - At minimum they'd most likely need permits from the city?
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