CBS Radio Officially Up For Sale


    It’s been rumored for what seems like years and Tuesday CBS Corp. CEO Les Moonves officially confirmed that the company is planning to sell the CBS Radio division. Moonves said the company will explore all alternatives including a sale, a spinoff or even a swap. The goal is to “unlock value for our shareholders.” Here’s the statement sent out from CBS Radio headquarters about the plan to move the radio stations…

    After announcing the plans to sell during the company’s investor day, CBS Radio released the following statement: “CBS Radio is a terrific organization, with a tremendous history and a great future. It makes sense that CBS Corporation, a company that is now focused primarily on premium video content, would choose to unlock the value of its radio operation. While it is still very early in this process, we are enthusiastic about the possibilities that lie ahead, and look forward to competing in this evolving industry with the strongest portfolio of major-market brands in the radio business. Going forward, we will do everything we can to assist in this transformative action and believe it will be to the benefit of our division, our stations, and our people.”

    CBS Radio was launched in 1928.



    1. It’s funny how it’s a “shrinking business” when corporate big wigs at CBS, iHeart and Cumulus cause their own downfall. No investment in talent and buying too many stations so now they’re cutting cost. Radio is a very profitable business if they’d just do it right.

    2. Left out this paragraph of Moonve’s comments, didn’t ‘ya?

      “Radio is a shrinking business, with advertising revenue falling and the company writing down the value of its station licenses last year. CBS’s local broadcasting division, which includes radio and TV outlets, reported sales of $2.6 billion in 2015, the lowest since 2009. CBS and Showtime are the company’s two premium brands, Moonves said.”

    3. Pray that Moonves knows better than to allow Cumulus and McVay to destroy the positive, productive culture of CBS. Cumulus hasn’t changed at all, they just put a propaganda machine in 4 wheel drive. #NeverCumulus

    4. This is not a new development. CBS has been trying to sell their radio satires for years now, but the prices CBS has been asking for the stations compared to what few buyers out there wold consider paying, have been far far apart. Not sure what Moonves’ motive is now, in making this public statement.


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