We didn’t get much color about radio in the CBS earnings call, we never really do. However, that might be changing as the company gets ready to spin off its radio division. And, even though the paperwork has been filed with the SEC for an IPO, all options to spin-off the radio division are still on the table.
Starting next quarter, CBS will report local radio and TV separately, so perhaps we’ll get more of a look under the hood when it comes to CBS’ radio stations. For now all we know is revenue at CBS’ 117 stations was down 1%.
CBS executives emphasized several times on their earnings call Thursday that the company was looking at all opportunities to spin off the radio division. It has already filed documents for an IPO with the SEC, but it’s clear the company is still open to selling the stations. CFO Joe Ianniello said, “While we move forward with an IPO we also continue to evaluate all opportunities. No matter what avenue we pursue, we are confident we will unlock significant value just as we did when we split off CBS Outdoor.”
CBS has also begun to separate the local TV and radio businesses in markets where they have both.
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