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.