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Wednesday, July 6, 2016

CBS TAKING RADIO DIVISION PUBLIC: REPORT

CBS is planning an IPO for its radio division, with a filing slated for this month, according to a Bloomberg report. Radio has been integral to the Columbia Broadcasting System since 1927, but the company had been seeking a buyer before ultimately opting to go public. Bloomberg estimates the value of the Les Moonves-led firm's radio holdings—117 stations in 26 markets, including Alternative flagship KROQ L.A. and NYC's WFAN—at $2.9 billion.

 
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