CBS Sheds Radio Outlets

Farrell, Mike
August 2006
Multichannel News;8/28/2006, Vol. 27 Issue 34, p34
The article reports on the plan of CBS Corp. to sell 39 radio stations in nonstrategic markets in the U.S., agreeing to unload 17 stations in two separate deals valued at more than $300 million. The CBS Radio division owns about 179 stations across the U.S., with an 8 percent decline in revenue to $519 million in the second quarter of 2006. Merrill Lynch analyst Jessica Reif Cohen estimated the proceeds of the sale to be about $700 million before taxes.


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