Chicago Fanatics Message Board :: View topic - CBS Radio spinning off from the rest of CBS

News this week that CBS Radio would spin off into a separate entity means the company’s seven-station Chicago cluster is assured of remaining intact. In a filing with the Securities and Exchange Commission, parent company CBS disclosed plans to take its radio division public by the end of the month. The decision to proceed with an IPO effectively ends speculation of a sale or merger with another company. CBS Radio owns 117 radio stations in 26 markets nationwide. In Chicago it includes all-news WBBM AM 780/WCFS FM 105.9; sports/talk WSCR AM 670; Top 40 WBBM FM 96.3; country WUSN FM 99.5; adult album alternative WXRT 93.1, and classic hits WJMK FM 104.3. The Chicago station group led the market in 2015 with total revenue of $123.54 million.

from Feder

Quote:

Makes sense. I never thought Cumulus or Entercom or whoever else is left in this business would shell out for CBS Radio. Wonder who's gonna buy stock in this growth industry.

Can't see this adversely affecting anyone but 780, which may lose out on some news-gathering resources. The rest, well, radio's radio; you can play the same 15 songs over and over (same 115 songs if you're XRT) under any ownership.

Makes sense. I never thought Cumulus or Entercom or whoever else is left in this business would shell out for CBS Radio. Wonder who's gonna buy stock in this growth industry.

Author:	Curious Hair [ Fri Jul 08, 2016 12:17 am ]
Post subject:	CBS Radio spinning off from the rest of CBS
from Feder Quote: News this week that CBS Radio would spin off into a separate entity means the company’s seven-station Chicago cluster is assured of remaining intact. In a filing with the Securities and Exchange Commission, parent company CBS disclosed plans to take its radio division public by the end of the month. The decision to proceed with an IPO effectively ends speculation of a sale or merger with another company. CBS Radio owns 117 radio stations in 26 markets nationwide. In Chicago it includes all-news WBBM AM 780/WCFS FM 105.9; sports/talk WSCR AM 670; Top 40 WBBM FM 96.3; country WUSN FM 99.5; adult album alternative WXRT 93.1, and classic hits WJMK FM 104.3. The Chicago station group led the market in 2015 with total revenue of $123.54 million. Makes sense. I never thought Cumulus or Entercom or whoever else is left in this business would shell out for CBS Radio. Wonder who's gonna buy stock in this growth industry. Can't see this adversely affecting anyone but 780, which may lose out on some news-gathering resources. The rest, well, radio's radio; you can play the same 15 songs over and over (same 115 songs if you're XRT) under any ownership.

Author:	Minooka Meatball [ Fri Jul 08, 2016 7:44 am ]
Post subject:	Re: CBS Radio spinning off from the rest of CBS
Curious Hair wrote: from Feder Quote: News this week that CBS Radio would spin off into a separate entity means the company’s seven-station Chicago cluster is assured of remaining intact. In a filing with the Securities and Exchange Commission, parent company CBS disclosed plans to take its radio division public by the end of the month. The decision to proceed with an IPO effectively ends speculation of a sale or merger with another company. CBS Radio owns 117 radio stations in 26 markets nationwide. In Chicago it includes all-news WBBM AM 780/WCFS FM 105.9; sports/talk WSCR AM 670; Top 40 WBBM FM 96.3; country WUSN FM 99.5; adult album alternative WXRT 93.1, and classic hits WJMK FM 104.3. The Chicago station group led the market in 2015 with total revenue of $123.54 million. Makes sense. I never thought Cumulus or Entercom or whoever else is left in this business would shell out for CBS Radio. Wonder who's gonna buy stock in this growth industry. Can't see this adversely affecting anyone but 780, which may lose out on some news-gathering resources. The rest, well, radio's radio; you can play the same 15 songs over and over (same 115 songs if you're XRT) under any ownership. I would imagine we will see some more high-priced "retirements" in the next year or two as well.

Author:	Gloopan Kuratz [ Fri Jul 08, 2016 7:46 am ]
Post subject:	Re: CBS Radio spinning off from the rest of CBS
Go public, grab some cash, and adios muchacho

Author:	TheIntangibles [ Fri Jul 08, 2016 1:04 pm ]
Post subject:	Re: CBS Radio spinning off from the rest of CBS
A good reason for keeping the radio network was strengthening their brands; cross promoting Viacom properties-- including Paramount movies,CBS TV, CBS local and national news,,HBO, MTV,etc. --- . Up and down radio industry profits are almost a sidenote. Whether it be on the Score News78, xrt or B96 ,brainwashing rates stayed cheap for a lame 10 oclock newscast or the Monday nite sitcom lineup. Top dog Sumner Redstone is winding down and CBS can stop absorbing everything like Fox or Comcast. His daughter gets to cash out big.

Author:	Don Tiny [ Fri Jul 08, 2016 1:11 pm ]
Post subject:	Re: CBS Radio spinning off from the rest of CBS
Curious Hair wrote: Makes sense. I never thought Cumulus or Entercom or whoever else is left in this business would shell out for CBS Radio. Wonder who's gonna buy stock in this growth industry.

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Author:	denisdman [ Fri Jul 08, 2016 1:35 pm ]
Post subject:	Re: CBS Radio spinning off from the rest of CBS
The spin-off prospectus has not been filed yet (darn wanted to read it). In any case, CBS Corporate noted the spin-off in a different SEC filing. It says they will release the prospectus in July, and at which time, I can see what the entity will look like. In almost all cases like this, the newly spun-off entity immediately becomes an acquisition target by larger competitors. Also possible, although less likely, is the chance that the stand alone company will start buying up rivals as way to gain better scale.

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