Did you see the BIA/Kelsey report entitled “CBS Radio As It Approaches IPO”?
Where they attribute the CBS Radio cluster in New York City as being worth a half billion dollars and that CBS with 35% of the market share and iHeartMedia with about 32% in just that one city.
New York means 15.1% to the company’s total revenue.
The fact is that the reason CBS is doing an IPO in the first place is because they cannot find a buyer for the radio division.
I’m getting a creepy feeling that CBS has something startling under its sleeve.
Something so out of the ordinary that the radio industry will be left in shock and upended.
- A consortium of buyers, but how does this work?
- And they can cherry pick what they want
- Buyers can play to their strengths and in effect buy cash flow
- Don’t even count iHeart out
- Or owners of TV stations to trade
- Makes the IPO a fail-safe
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