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CBS (CBS Quote) plans to divest itself of 35 small market radio stations, CEO Les Moonves says.
Moonves said that the move would allow the company to focus on improving performance at its bigger radio properties. The news comes as CBS Radio struggles with sliding ratings following Howard Stern's departure for Sirius (SIRI Quote).
Moonves made the remarks Wednesday at CBS' annual TV Upfront presentation in New York. Management had previously announced its intention to sell some noncore radio properties. ...
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