CBS sticking with radio, outdoor


CBS Corporation CEO Les Moonves told a Merrill Lynch investor conference Tuesday that while the company might make some more radio divestitures, he has no intention of exiting the radio business. What about CBS Outdoor, which is in a hot sector? "We like the outdoor business a great deal. I don’t foresee us in the near term or the long term spinning it out," he said. Moonves is also anxious to expand online and said CBS is looking at potential Internet buys "every single day of the week."