Thursday, December 07, 2006

Moonves on the Future of Radio

CBS President & CEO Les Moonves recently sat down with CNBC’s David Faber to discuss the future of radio.

Highlights from the conversation:

  • CBS Radio got over 14x EBITDA for selling stations in ten radio markets, there's no interest at CBS in selling off the entire division
  • CBS Radio is more focused now as a major market radio company
  • Howard Stern did a very good job, his numbers were high and hard to replicate
  • CBS Radio comps should be pretty good, better this January than last January
  • Opie & Anthony are doing terrific in many markets
  • "Jack-FM" is working in most markets

Overall, Moonves says: “We are expecting a very nice year in ‘07.”

To see the interview, click here.

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