On Friday, CBS Radio filed an updated S-1 with the SEC as it continues along the path to take the radio division public. The radio stock will trade as CBSR. Here are some other details from the prospectus we thought you’d find interesting.
Some of the details in the S-1 include revenue numbers we rarely get to see from CBS being that it spends so little time discussing radio on its quarterly earnings calls. The prospectus says CBS Radio generated $1 Billion in broadcast revenue from its 117 stations in 2015. That made up 81% of CBS radio’s total revenue for that year.
Another $229.5 million was generated from digital, events and other revenue, which was 19% of the company revenue for the year. In 2015, CBS Radio generated 75% of its revenue from local advertisers and 25% from national advertisers.
The company has said it would like to spin the radio division off in early 2017 but there have also been hints that something could happen sooner than that.