Saturday, September 12, 2009

Moonves on Radio

CBS chief Les Moonves says his radio group is up 10-15% from early 2009, but –

The CBS Radio division is still in negative territory. So says Wells Fargo analyst Marci Ryvicker, reporting on Moonves’ Thursday appearance at an investors’ conference. Moonves indicates that CBS is open to selling off more assets. On his recent Q2 call, the only kind of assets he mentioned in that regard were radio stations. As for possible expansion at CBS, that won’t happen in the radio group, but it might in other business segments. (When you get right down to it, Moonves is still basically a TV guy who’s also jazzed about making movies.) Moonves says Super Bowl TV ad sales are pacing ahead of the last time CBS had the big game, three years ago. Moonves should have pretty good visibility on his third quarter numbers, since Q3 ends in less than three weeks.

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