CBS CEO Puts For-Sale Sign on 117 US Radio Stations

Bloomberg: CBS, owner of the most-watched U.S. TV network, is putting a for-sale sign on its radio division, a group of stations that dates back to the inception of Columbia Broadcasting System in 1927. CEO Les Moonves told investors in a presentation the company will explore strategic options for the division as part of plans to “hone” its asset portfolio. All options are on the table, including a spinoff, split and sale.