…young people are not turning on their radio to discover new music; they’re certainly not sticking around through the commercials to listen to new music on a radio station. No, sir, that’s what the Internet is for, and that’s why your business has no future. [MORE]

Source: CruchGear

CBS will also take over ad sales for Launchcast, offering advertisers both display, video and audio ads. The new service will roll out sometime in the first quarter of 2009. [MORE]

Source: TechCrunch

In a move that reflects the growing importance of digital revenues to radio’s bottom line, CBS Radio is reorganizing its top management, the radio group’s president and CEO Dan Mason announced earlier this week. [MORE]

Source: MediaPost

Yesterday, CBS sent out a press release touting the success of Last.fm’s month-old redesign, citing a 20 percent increase in unique visitors and a 36 percent increase in total minutes between June and July. Despite a few bugs on the day of the launch, the redesign seems to be paying off. But why is CBS so keen on beating its chest when it comes to Last.fm? [MORE]

Source: TechCrunch

In a conference call to discuss CBS’s quarterly results, CEO Les Moonves pointed to the recently announced selloff of radio stations and acquisition of CNET as an effort to jumpstart growth. [MORE]

Source: Valleywag

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

Last.fm has a new look today that simplifies the navigation of the main site and makes finding music easier. Or at least, it would make finding music easier if the site wasn’t so buggy. (At least for me. I couldn’t even log in without getting an error. This may be due to fans rushing to check out the new features, or simply poor planning). [MORE]