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.”