As expected, CBS is spinning off its radio division, CBS Radio, which owns WIP among other Philly stations. From Bloomberg:

CBS Corp. is planning to file to take its radio division public by the end of the month, a sign that the owner of the most-watched U.S. TV network can’t find a buyer willing to pay the right price.

The decision, announced in a prospectus for senior notes due 2020, means the company will cut ties to radio stations dating back to the inception of Columbia Broadcasting System in 1927. While CBS has been exploring strategic options for the division, including a sale, analysts anticipate the company to spin off the business as it did with outdoor advertising.

Jeez I can’t imagine why a terrestrial radio company is struggling to find a buyer in 2016.

Going public may have ramifications – specifically cost-cutting – that will impact WIP. But in the absence of any further context, I’ll talk to some folks over the next few days and try to provide more insight here.

Recently, Greater Media, owner of 97.5 and WMMR, shuttered its Detroit sports talk radio station as part of a cost-cutting initiative that also led to a few 97.5 weekend personalities being let go. It’s almost as if radio isn’t the future. PLAY SONG: