CBS Corp. To Take Radio Arm Public
July 6, 2016 at 10:21 AM (PT)
CBS CORP. is planning to take its radio division public by the end of the month, BLOOMBERG reports, noting that the media conglomerate hasn't found a suitor willing to pay the right price.
CBS divulged its intentions in a prospectus for senior notes due 2020. It has been exploring strategic options for the radio division, which operates 117 radio stations in 26 U.S. markets and may be worth about $2.9 billion.