CBS Once Again Hints At Selling Off Some Radio Holdings
This morning at the Deutsche Bank Media, Internet and Telecom Investor Conference in Palm Beach, FL, CBS CEO Les Moonves once again stated the company is looking to divest some of its radio holdings, but not its entire portfolio.
Variety reports that in regards to slimming down its holdings in medium sized markets Moonves stated, “Trimming some of that would be a good idea for us”. Yet when it comes to exiting radio completely he shot that down with The Hollywood Reporter stating that they fit in CBS’ mandate of being a content business.
Moonves also said CBS would be open to placing some of its CW and independent television stations in the tentatively scheduled for 2016 spectrum auction. Divesting some of their second television stations in major markets could allow CBS to theoretically add an additional radio station in markets like Philadelphia and San Francisco.
Last September, Moonves indicated he would like to sell around 40 or so stations over the next year or so. Just weeks later the company swapped fourteen stations to Beasley for three in Miami and two in Philadelphia.