Les Moonves Discusses CBS Spin-Off Plans
CBS Executive Chairman/CEO Les Moonves discussed the company’s plans to spin-off the company’s radio properties during an interview on Broadcast Company of America’s Sports “Mighty 1090” XEPRS Tijuana/San Diego on Wednesday.
During the interview with morning host Dan Sileo, Moonves stated, “As the world progressed we’ve moved into much more digital, much more streaming and it is a world for us that is keyed on video. Radio is still a wonderful, wonderful business you know. So it is our intent to spin it off into its own self standing company which will fit better than being part of a big conglomerate like ours which is keyed more on television. By no means do we think that radio is not a great business. It’s a slower growth business than the video business is. But we have 117 radio stations and we think that will be a great stand-alone company. So by no means are we deserting the radio business.”
Listen to the whole interview at Mighty1090.com. The relevant CBS Radio discussion starts at the 6:15 mark.