CBS Radio Revs Drop 7% In 4Q

Somewhere, Howard Stern is probably saying, no, shouting, ”I told you so!” Ever since the self-proclaimed ”King of All Media” left terrestrial radio — CBS Radio, to be precise — the station has been in a state of free-fall while Sirius satellite today announced smaller 4Q losses. CBS Corporation released their fourth quarter and 2007 full year revenue figures, which show that even after selling 39 radio stations and slashing the workforce, these are challenging times for the radio division.