Big news in the media world usually involves the Internet these days, but radio made an appearance during CBS’s annual investor day on Tuesday.
Les Moonves announced that the media giant is planning to sell or spin off CBS Radio. The network is made up of 117 stations. Variety noted that the radio stations have become a “drain on resources.” Of course, the Internet does have some role in this, as CBS wants to focus more on digital content.
A few of those are in Baltimore, including current Orioles broadcaster 105.7 The Fan, Mix 106.5 and WLIF (101.9). On the AM side, CBS owns WJZ 1300.
No deals were announced, but Moonves’s announcement indicated media ownership changes seem likely to come to the area within the year.
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