No rush to sell CBS Radio stations


CBS Corporation CEO Les Moonves told the UBS 36th Annual Global Media and Communications Conference in New York that the company is still considering offers for the radio stations it has put up for sale in 12 markets. In fact, some potential bidders are even interested in buying all 12 markets. But Moonves says CBS is not forced to sell in the current depressed market, so it may sell some stations now if it can get good prices and sell the others later when things improve. As for the radio business, he calls it “challenged” but still a viable business. Yes, radio ad sales are down, he noted but not down as much as at the CBS O&O TV stations.