March 15, 2016
The Philadelphia radio market could see a shakeup in the near future as six of the most prominent stations may be sold.
A report in Variety claims CBS plans to "sell or spin off its radio assets in the coming year.” CBS CEO Les Moonves confirmed the plans at a meeting Tuesday.
Among CBS' 117 stations across the country are the following Philly stations: KYW Newsradio 1060, Sports Radio 94 WIP, 1210 WPHT (talk), 96-5 AMP Radio (contemporary), WOGL 98.1 (oldies) and WXTU 92.5 (country).
As the Los Angeles Times notes, the move is quite meaningful as CBS' television and radio stations are what the company was built on and the stations have adopted to consumer patterns over time.
Yet also noted by the Times and Variety is that terrestrial radio as an industry has become a slow-growing one.
CBS Philly has undergone some shakeups as of late. Andy Bloom, operations manager at WIP and 1210, was let go in December and was not replaced. Several veteran news anchors and reporters were also laid off last year.
The Philadelphia Daily News reports the planned sale could be complicated as CBS Philly's television studios share space with KYW.
A potential suitor for the Philly stations, according to the Daily News, could be Cumulus Media, which owns 500 stations but none in Philly.