Home Music Industry News CBS Radio Selling Radio Assets, Sites Poor Profit Margin

CBS Radio Selling Radio Assets, Sites Poor Profit Margin

leslie-moonves

It’s no surprise that advanced media corporations are starting to eliminate their radio businesses which could possibly mean selling at steep discounts and the gradual return of the “mom and pop” concept in the coming months.

CBS has announced that they plan to dump their radio assets in the coming year. They are citing slow growth and owning the outlets being a drain on resources that leans towards more debt than profit. No surprise there, when you look at the stock of most radio corporations and their growing continuous debt. CBS feels the money could be better directed toward digital which is certainly where the industry is not only headed but IS.

CBS chairman-CEO Leslie Moonves (pictured) confirmed the plan Tuesday during CBS’ Investor Day presentation in New York according to Variety magazine.  Moonves said the corporation will explore alternatives to eliminating the properties which will include sales, swaps and spinoffs like the company did in 2014 with Beasley Broadcasting.  Moonves states he wants to “unlock values for shareholders.” CBS Radio owns 117 stations with some of the top outlets in markets like New York, Chicago, Atlanta, San Francisco and DC.



Motivational Podcast by RFFocus.org CEO Kevin Ross - More Episodes HERE

Kevin Ross: RFFocus.org CEO with over 20 years experience in the Industry. Ross is a former radio Program Director and Radio Jock. You can contact him by clicking the "Contact Us" button in the menu bar.

Leave a Reply