CBS Wants Out of The Radio Business

Anyone want to buy WFAN?

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.”