Let
The Bidding Begin
9-22-08
CBS Radio
is selling off 50 of its mid-sized radio stations in response to soft local ad
markets and a weak economy. Today
is kickoff day of the auction for 50 stations owned by CBS. President/CEO Les Moonves said "We don't
know what the marketplace is,"..."If we don't get the right pricing
for it, we're not going to sell."
According to the New York Post, those who received books and
expected to bid are: Cumulus
Media, Entercom
Communications, Bonneville
Broadcasting, Connoisseur Communications and Tribune
Co., as well as former radio industry executive Bobby Lawrence
and former CBS Radio C.E.O. Joel Hollander. CBS owned
stations in Central Florida include WJHM-FM 101.9,
WOMX-FM 105.1 and WOCL-FM 105.9.
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