Moonves: Radio Looking Up But CBS Still Looking To 'Trim Down'
December 9, 2009 at 5:20 AM (PT)
CBS CORP. CEO LES MOONVES told the UBS Global Media and Communications Conference in NEW YORK TUESDAY that while he sees improvement in all of the company's operations and he expects a year-to-year revenue increase for radio in first quarter, CBS is still looking to "trim down" its radio station portfolio.
"Are we a little overloaded in radio?," MOONVES asked. "Yeah, we've mentioned that before, that we'd like to trim down. The good news is that we didn't have to." MOONVES said that the recovery in the marketplace makes selling off stations "a better thing for us to do as we go down the road a bit."
MOONVES said that the advertising market overall is "not back yet, but the pacing is good," noting that radio head DAN MASON has promised a "plus sign" for first quarter, And asked if CBS would consider severing its broadcast TV network from its over-the-air stations as NBC UNIVERSAL is rumored to be considering after its takeover by COMCAST, MOONVES said that while "I guess you can head towards a model like that," the company "believe(s) in local businesses very strongly."