CEO Les Moonves says the decision to divest 50 mid-sized markets comes as the company adjusts its portfolio. He says “By selling these slower-growth stations, we can focus on the larger markets that are showing real growth.” Moonves says big market stations did “very well” in the second quarter. Overall, CBS Radio same-station revenues dropped 9% in second quarter to $416 million.

Source: Inside Radio

Tags: cbs, les moonves, radio, sell, stations

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