CBS Radio Sets Trading Symbol, More Details Of IPO
November 21, 2016 at 5:38 AM (PT)
CBS RADIO INC.'s second filing to amend its SEC Form S-1 registering its coming IPO and spinoff from CBS CORP. indicates that the new company will trade on the NEW YORK STOCK EXCHANGE under the symbol CBSR.
The filing also indicated that the new company will license the name CBS RADIO for six months and will then change its name but will enter additional licensing agreement to use "certain CBS-owned brands that are also used by CBS' owned and operated television stations" and the CBS SPORTS trademark in connection with the CBS SPORTS RADIO network.
The management of the spinoff will include President ANDRE FERNANDEZ, newly-appointed EVP/CFO MATTHEW SIEGEL, and COO SCOTT HERMAN; the board, comprised of seven members, will include FERNANDEZ, SEAN CREAMER, and STEFAN SELIG, with current Chairman LESLIE MOONVES, Sr. EVP/Chief HR Officer ANTHONY AMOROSIO, COO JOSEPH IANNIELLO, and Sr. WVP/Chief Legal Officer LAWRENCE P. TU exiting the board upon the spinoff.