In an SEC filing made Friday (11/18) officially named “Amendment No. 2 To Form S-1,” CBS Radio offers no pricing information for its initial public offering of stock, nor did it offer the amount of shares it will offer in its upcoming IPO.
But, the “preliminary prospectus” — with information that is “not compete and may be changed” — does contain some key details about a company that will trade under the ticker symbol “CBSR” following its split from CBS Corporation.
CBS Radio listed many of its business strengths — including its large market focus and national footprint; strong radio clusters and local market scale; powerful local brands; an extensive digital platform; and “an attractive financial profile” set to make it “a very well-capitalized company and well-positioned to take advantage of our strong assets, scale and competitive strengths to grow our business.”
Among the many things that could negatively effect CBS Radio? Royalty payments and a risk of “inaccuracies” in its third-party (a.k.a. Nielsen Audio) ratings estimates.