CBS CEO on Tuesday said the company, which currently owns 117 radio stations is exploring "strategic options" for it's radio business. http://www.hollywoodreporter.com/news/cbs-explore-sale-spinoff-radio-875818 Investors apparently aren't enthused because following the announcement, CBS stock remained unchanged.
http://www.bizjournals.com/philadel...ogl-other-cbs-radio-stations-up-for-sale.html The Philadelphia market will undoubtedly be reshapen, given there are 6 stations in play. KYW-1060 News Radio shares news operations with KYW-3, and would have to move operations regardless of any format change. 50 kw WPHT-1210 is a clear channel heard in 2/3 of the states and Canada at night. http://www.bostonherald.com/busines..._radio_stations_would_reshape_boston_airwaves The selling of 5 stations would recast Boston's dial. Notably, 50 kw ckear channel WBZ-1030 News Radio, like WPHT, is heard at night in most places east of the Rockies. It's daytime reach extends to at least Baltimore. And KMOX-1120 News Radio in St. Louis is another 50 kw clear channel heard throughout the USA. It covered the Ferguson riots. Ditto for WBAl-1090 Baltimore, another 50 kw clear, covered the Baltimore chaos. Ibid for WBBM-780 Chicago, covering the Chicago disturbances over the decades. 50 kw clear all news WCBS-880 New York can be heard from Maine to Virginia during the day. Toss in 50 kw clear KOA-850 Denver -- all of these I've listened to for decades -- and the outlook for news radio is grim. These and other CBS all news radio stations, most all high-powered outlets, each covering wide areas of the country will be sorely missed by listeners travelling in vehicles or listening on smartphones and tablets. I don't see any media group buying the portfolio en masse. The few large media groups -- I'll pick on Greater Media as an example -- already own multiple stations in any given market. The FCC has a limitation on the number of stations that may be owned by a company in a single market. Undoubtedly the ownership limitation would be exceeded in many markets. There would be some buying and selling of lesser properties in markets as some media companies attempt to swap around outlets to pick up the clear channel AM outlets to gain coverage. I don't know anyone else with the resources to carry on the wide-spread full time local news radio coverage offered by the CBS Radio network. It is a shame. The unwinding of the radio network will take years. Given the cut in the FCC's budget over recent years, I can't see any paperwork being fast-tracked. http://www.latimes.com/entertainmen...-announces-cbs-radio-sale-20160315-story.html Declining market share apparently is the culprit behind the decision to sell or spin off the radio outlets. Nuts.
