Moonves Still Sees Value In Radio
September 11, 2009 at 4:50 AM (PT)
CBS CEO LESLIE MOONVES was interviewed at the BANK OF AMERICA/MERRILL LYNCH media conference by MERRILL LYNCH analyst JESSICA REIF, reports THE LOS ANGELES TIMES, and said "I don't foresee us doing anything major in terms of an acquisition," when asked whether the company might look at Internet properties or other media deals.
As for radio, MOONVES said CBS will not sell all of its radio stations. "There is still value in radio," he told REIF. However, writes THE TIMES, "he wants to unload a lot more stations and really focus in the Top 10 markets."
He also said there are no plans to sell outdoor holdings, and mentioned it is too early to tell how many political ad dollars there will be in 2010. He noted that CBS does better in nonpresidential election years. "It will be very interesting to see the political climate and how it affects us," he said.