Report: CBS Radio Going Up For Sale...To Cumulus?
January 21, 2013

Last week, CBS announced that it plans to sell off its outdoor division. Now rumors have begun that the media giant is considering spinning off more of its holdings, including CBS Radio. Sources tell the New York Post that there is speculation that Leslie Moonves is open to a potential sale of the radio unit, "as he looks to reduce the company’s reliance on advertising and shed slower growth businesses."

An anonymous entertainment executive told the Post that Moonves is "trying to diversify. He’s actively looking. He’s got to do something. And he’s not being shy." Sources told the paper that a sale of CBS Radio is possible any time in the next 12 to 24 months, and Cumulus head Lew Dickey "has already sent out feelers" to CBS about purchasing the radio division. A Cumulus-CBS merger would essentially put the #2 radio ownership group on par with Clear Channel. Cumulus and CBS are already working together to syndicate CBS' new national Sports Radio Network.

One source suggested to the Post that Cumulus could buy CBS Radio through a spinoff structure known as a reverse Morris trust, which would "minimize the tax hit to CBS."

Despite all of these rumors, a spokesperson for CBS told the Post flat-out, "We are not selling CBS Radio."




 
Breaking News
Study: Radio Dominates In Connected Cars
February 17, 2017
Study: Women to Radio: I Love You, But….
iHeartMedia Fort Myers Adds New Nighttime On-Air Hosts Lulu & Lala On Y100.1
Entercom Los Angeles Extends KSWD's "Uncle Joe'Benson
February 16, 2017
Study: Who Do Women Love Most – Radio or Pandora?
Prince Streaming Activity Explodes
Kathy Romano To Bring "Her Story" To WBEN/Phiadelphia
February 15, 2017
CBS Corp Revenue Up in 2016, Radio Now "Discontinued Operations"
Z90 "EPIC 48 2.0" Wraps, Includes Meeting Lady Gaga At The Big Game
MIW Radio Group: 2016 Gender Analysis
February 14, 2017
BuzzAngle Music: 2017 GRAMMYs Impact
Universal Music Publishing Group Appoints Walter Jones VP/Creative
The Conclave To Honor John Gehron With Rockwell Award
Report: Millennials Don't Hate Radio
Bob Garrett Memorial Fund
February 13, 2017
Adele Dominates 59th Annual Grammy Awards
Todd "Carson" Zarnitz Named PM Drive Host for KKRZ/Portland & KPWK/Seattle
UMG Relaunches Polygram Entertainment
WRVW/Nashville To Present “Live. Life. Love: A Concert for Suicide Prevention”
CMG Miami Names Michael Baisden Afternoon Drive Host At WHQT
February 10, 2017
Nielsen Reports Increased Revenue in 2016, Q4
Pandora Revenue and Net Losses Both Up in Q4, 2016 Full Year Report
February 9, 2017
CBS Radio Chicago Names Greg Solk OM/PD At WXRT & WJMK
Music News
Fifty Shades Darker Soundtrack Debuts Atop Billboard 200
James Brown's Drummer Clyde Stubblefield Dies
Quick Hits: The Roots Picnic, Ringo Starr & Paul McCartney, Lana Del Rey
Republic Records, ZXL Music & The Grimmie Family To Release New Christine Grimmie Music
Linkin Park Announce New Album, Release Single "Heavy"
Migos Joins With Motown & Capitol Records
Quick Hits: Beyonce, Adele, Metallica, Michael Jackson, OneRepublic
Katy Perry, Ed Sheeran, The Chainsmokers, Shawn Mendes, Noah Cyrus, Bruno Mars Set To Perform At The 2017 iHeartRadio Music Awards
Future Announces New Album Out Friday
Quick Hits: Pitbull, Lorde, G-Eazy, Camila Cabello
Quick Hits: Katy Perry, The Chainsmokers, Chance The Rapper
Prince's Early Catalog Comes to Streaming Services
Metallica Announces WorldWired Tour
Quick Hits: DJ Khaled / Beyoncé / Jay Z, Al Jarreau, WayHome Festival
Katy Perry Releases New Single "Chained to the Rhythm"
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!