CBS Radio Plans $1.5 Billion Debt Offering Ahead of IPO

Reuters: CBS Radio, which CBS is planning to shed, is said to be preparing to take on about $1.5 billion in debt ahead of its initial public offering and use most of the proceeds to pay its parent in cash. The IPO for the subsidiary, which owns 117 U.S. radio stations, was registered in July with the U.S. Securities and Exchange Commission.