CBS Wants Out of The Radio Business

By Chris O'Shea Comment

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CBS is done with the radio business. During an earnings call, CEO Leslie Moonves said the company will explore all options, including a sale, spin-off or even a swap.

CBS currently owns 117 stations in 26 markets, including New York’s WFAN and WCBS. That collection makes CBS the fourth-largest radio company, behind iHeartMedia, Cumulus and Townsquare.

The goal of unloading the stations, according to Moonves, is to “unlock value for our shareholders.”