CBS to spin off radio stations in Texas
CBS has largely settled on which radio stations to sell, an action forced by its recent merger with Viacom. The first was sold last week: KLUV(AM) Dallas went to Radio One for $16 million (see Changing Hands). Also to be sold is gospel KHVN(AM) Fort Worth/ Dallas, according to a source familiar with the arrangements.
CBS additionally put on the market KRLA(AM) Pasadena/Los Angeles,; WSCR(AM) Chicago, and WBGR(AM) and WBMD(AM) Baltimore. What to do in Sacramento has not yet been determine. If a radio station goes, it will be an AM, the source says, but Viacom's KMAX-TV there could be sold to start bringing the combined company into compliance with the FCC's TV ownership caps.
TVs to spin off have not yet been chosen, the source adds. Viacom has more time to decide which TV stations to sell: one year, compared with the six-month radio deadline.