Last March, we reported that CBS(CBS) was considering ‘strategic options’ for its radio business. After it was unable to find a buyer, the company moved forward with plans for an IPO and spinoff of CBS Radio. Today, the company again announced a change of plans. Instead of an IPO, the company will be spun off and immediately merge… Read More »
CBS Corporation (CBS) is ready to shed one of its oldest assets. While the network is well known today for its hit shows, its origins are in the radio business. Nothing lasts forever though and during this week’s presentation at its analyst day, CEO Les Moonves announced that the company was considering ‘its strategic options’ for the radio business.… Read More »
CBS (CBS) finally released details on its plan to ‘split off’ its remaining 81% stake in CBS Outdoors (CBSO). After successfully raising ~$2b selling 19% of the outdoor advertising company in an IPO a few months ago, the company is offering a voluntary exchange offer to dispose of its remaining shares. CBS Class B shareholders will be able… Read More »
CBS Corporation (CBS) continues to make progress in its three step plan for outdoor advertising company CBS Outdoor Americas (CBSO). The first milestone was achieved last month with CBSO’s successful IPO and now CBS has received a favorable private letter ruling from the IRS regarding the conversion of CBSO into a REIT. According to CBS CEO and President Les… Read More »
Roughly a year ago CBS Corp (CBS) decided to shed its outdoor units. Its Asian & European units would be divested and were ultimately sold to private equity firm Platinum Equity for an estimated $225m last fall. The company had grander plans for its North American outdoor segment though. Much grander plans, including an IPO, followed by a spinoff… Read More »