CBS Plans IPO for Radio Division
CBS Corporation plans to file documents with the Securities and Exchange Commission this month related to taking its radio division public.
The company made the disclosure to the SEC in a filing about an offering of senior notes due 2020. CBS told the SEC Wednesday it expects to file a registration statement this month related to an IPO of shares of CBS Radio common stock.
CBS has been exploring options to separate out the radio business and concentrate on television and video.
We’ve reported analysts that have spoken with RBR+TVBR have downplayed the likelihood that one company could buy the entire division or even clusters, and it was more likely CBS would seek to spin the division as it did with outdoor.