CBS Radio announced today that it will be selling off 50 of its 140 stations:
Radio [earnings] continued to lag, with revenue falling 10% to $416.4 million, compared with $463.4 million for the year-earlier period. On a same-station basis, revenue was down 9%. Operating income declined 16% to $150.7 million.
Just two years ago, CBS Radio boasted nearly 180 radio stations. It has since shed about 40 stations, and with the planned sale of 50 more, the company would cut its holdings to about 90 stations.
What do it mean for Portland, you're asking. Looks like they'll divest the entire Portland group; their stated strategy is top-five markets. The stations already on the bubble are KINK, KUFO, KUPL and KLXM; the potential buyers are currently unannounced. The other stations in the local group are KLTH and KCMD.
Blood in the hallways at CBS as they pare things down for prospective purchasers.
KUFO midday guy & MD, Boyzk, cut.
KHITs morning show gone: Dave Hood & Carol Batchelor.
More heads rolled, but the full list is unavailable.