CBS selling radio brand -- which includes 105.7 The Fan
By Tribune and staff reports
The Baltimore Sun|
Mar 16, 2016 | 1:57 PM
CBS plans to sell one of its legacy brands: CBS Radio.
The brand includes some Baltimore radio staples, including sports talk station 105.7 The Fan.
"We will begin to explore strategic options," CBS Chairman and Chief Executive Leslie Moonves announced Tuesday during the company's investor day. "We will be prudent and judicious. We will take our time to make sure that we do it right."
Baltimore properties aside from 105.7 FM include another sports station, 1300 AM, and music stations Mix 106.5 FM and WLIF 101.9 FM.
The move represents a recognition that terrestrial radio is no longer a growth industry, particularly as major advertisers shift their spending to digital platforms.
However, the proposed sale is hugely symbolic because the broadcasting company was built on the back of its TV and radio stations, which have adapted and thrived over the decades as consumption patterns changed.
CBS Radio, launched in 1928, also represents one of the largest radio station groups in the nation, reaching an estimated 70 million consumers nationwide each week, according to the company's website.