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Leslie Moonves of CBS see Radio as a Non-Core asset

Bottom line; CBS is in the network and major market radio business to stay.

You probably won't be seeing them expand beyond their networks (news and now sports) and their portfolio of big market, full coverage signals, unless a big city blowtorch that doesn't duplicate or greatly overlap their existing stations becomes available in a market where they haven't already bagged their limit. But they WILL be in large market and nationwide radio programming for as far into the future as they eye (no pun intended) can see. After all, it's the business on which Bill Paley built the company in the first place...
 
The thing about CBS is they've also heavily invested in new media, like C-Net, last.fm, and Radio.com. They are very diversified, and perhaps a good reason why their stock is among the highest of any media company.
 
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