Deals
CBS's CEO Says Broadcaster Mulling Sale of Radio Division
- Company wrote down value of licenses last year as sales fell
- Aim is to unlock value for shareholders, CEO tells investors
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CBS Corp., owner of the most-watched U.S. TV network, is putting a for-sale sign on its radio division, a group of stations that dates back to the inception of Columbia Broadcasting System in 1927.
Chief Executive Officer Leslie Moonves told investors Tuesday in a presentation the company will explore strategic options for the division as part of plans to “hone” its asset portfolio. All options are on the table, including a spinoff, split and sale, the company said.