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CBS ‘Studying Options’ for Radio Division

‘We’ll take our time and make sure we do it right,’ says Moonves of possible sale

CBS is studying options for what to do with its radio division, CEO Les Moonves said at the company’s investor day in New York Tuesday.

The options might include a spinoff or a sale of the division.

CBS recently spun off its outdoor advertising business, which was not a perfect fit with its video content activities.

“We’ll take our time as we did with outdoor, and we’ll make sure we do it right,” Moonves said.

Moonves said the evaluation process had just begun. “When we’re through we’ll have done something that’s right for CBS shareholders and for the radio business,” he said.