CBS' Moonves: Company Weighing 'Strategic Options' For Radio, May Sell Or Spin Off Division
March 15, 2016 at 12:14 PM (PT)
CBS CORPORATION Chairman/CEO LES MOONVES told investors TODAY (3/15) that the company is considering its "strategic options" for the radio division. At the company's Investor Day, MOONVES said that the possibilities include spinning off or selling the division to "unlock value for our shareholders."
“We’ll take our time as we did with outdoor, and we’ll make sure we do it right,” said MOONVES, referring to the spinoff of CBS' outdoor advertising division. He promised that the company will be "prudent and judicious," and added, “When we’re through, we’ll have done something that’s right for CBS shareholders and for the radio business."