Here’s What Could Impact CBS Radio Post-IPO


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.

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.