CBS Radio Stations on the Block

CBS RADIO STATION ON THE BLOCK
[SOURCE: Multichannel News, AUTHOR: Mike Farrell]
Just one day after announcing a deal to sell its Paramount Parks theme parks, CBS Corp. said Tuesday that it is exploring opportunities to divest its radio stations in 10 markets -- Austin and San Antonio (TX), Buffalo and Rochester (NY), Cincinnati and Columbus (OH), Fresno (CA), Greensboro-Winston/Salem (NC), Kansas City, and Memphis. CBS owns 39 stations in these markets. Just what price those stations could attract is anyone’s guess. However, earlier this year, Cumulus Media Inc. purchased 33 radio stations in large and small markets from Susquehanna Media Co. for about $1.2 billon. CBS Radio owns about 179 radio stations -- including those earmarked for sale -- across the country.
http://www.multichannel.com/article/CA6337318.html?display=Breaking+News