CBS Radio Files IPO
July 8, 2016 at 2:13 PM (PT)
Today CBS RADIO has filed for an initial public offering worth up to $100 million in shares, MARKETWATCH reports. The radio group holds 117 stations primarily in major markets nationwide.
CBS noted in the filing that it "will be able to exert significant influence over us and our corporate decisions" after the IPO as it will continue to maintain more than 50% of voting power. The filing did not disclose which stock exchange it will be traded or its future stock symbol.