CBS: Radio IPO The Most Likely Go
By Adam R Jacobson
RBR + TVBR
The fate of CBS Radio has been the subject of many an industry discussion over the last week.
Speaking last week at the at the Bank of America/Merrill Lynch 2016 Media, Communications & Entertainment Conference, CBS Chairman/CEO Les Moonves ruled out any reunification between CBS Inc. and Viacom.
Moonves also noted that CBS remains on track to spin off its radio division, while at the same time remarking that CBS Radio has been eyed by entities who have considered buying the AMs and FMs.
As C-Suite executives and media brokers prepare to travel to Nashville for the 2016 Radio Show, brokers who spoke with RBR + TVBR are highly skeptical that anything but an Initial Public Offering of CBS Radio is in the works — even though they are “beachfront properties,” in the eyes of one broker.