CBS Planning IPO for Radio Unit

According to sources, CBS is planning to file to takes its radio division public by the end of the month. The decision to go public, which many see as a sign that CBS has been unable to find a buyer willing to pay the right price, would mean that the company would cut ties with their radio stations and potentially spin the business off like they did with their outdoor advertising sector. According to Bloomberg, "while unloading some assets, the network has said it will increase sales by $3.75 billion through higher retransmission fees, selling CBS All Access and Showtime over the Internet, and licensing TV programs for broadcast outside the U.S." Read the full story here.