CBS is studying options for what to do with its radio division, CEO Les Moonves said at the company’s investor day in New York Tuesday.
The options might include a spinoff or a sale of the division.
CBS recently spun off its outdoor advertising business, which was not a perfect fit with its video content activities.
“We’ll take our time as we did with outdoor, and we’ll make sure we do it right,” Moonves said.
Moonves said the evaluation process had just begun. “When we’re through we’ll have done something that’s right for CBS shareholders and for the radio business,” he said.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.