Les Moonves: 'I Think You Might See Us Try To Trim Radio'
September 18, 2014 at 3:58 AM (PT)
He's at it again. CBS CEO LES MOONVES, once again has the industry buzzing over whether CBS is selling some of its radio properties.
Last week, MOONVES had tongues wagging after remarks he made on cable TV's "Closing Bell" show on CNBC. MOONVES hinted -- as he has on other occasions -- that the company would consider selling some radio stations outside its major markets.
Now, MOONVES tells the BANK OF AMERICA MERRILL LYNCH Conference that CBS could move 40 or so of its smaller radio stations. MOONVES said, “you might see us reducing from 127, 128 radio stations ... to the high 80s or low 80s,” adding “I think you might see us try to trim down radio, in that some of our radio stations aren’t in major markets.”
The remarks are in line with comments he's made for some time. MOONVES once again explained the sales would depend "on the markets and depending on what the valuation is.”
Listen to MOONVES's full remarks here. You'll need to register, but it's free. Skip ahead to the 22:15 to hear his comments about radio.