Editor's note: Oops! We inadvertently mentioned that CBS's lawsuit against Howard Stern after his move to Sirius Satellite Radio
It isn't surprising that the chief executive of CBS's
Joel Hollander of CBS Radio has resigned and will be replaced by CBS Radio's former president, Dan Mason. Hollander had been expected to leave by the end of this year, so he's leaving significantly ahead of schedule. Mason is no stranger to the industry or to the company; he had been doing consulting work for the company on digital plans in radio.
Since its split from former parent Viacom
Last quarter, one of CBS's weak spots was its radio segment. Its revenues may have increased by 2.5%, but its radio business revenues decreased by 8% amid programming changes and a tough ad market.
There's some speculation floating around that Hollander's early departure may mean CBS is getting ready to sell some parts of the radio business. Of course, that's not exactly a foregone conclusion (and I'd think the fact that his successor has experience suggests otherwise). Much has been made about private-equity buyouts these days, but such rumors don't get me excited. Look at radio rival Clear Channel
Regardless, Hollander's departure and his replacement may make news headlines and give reason to speculate on CBS, but it seems to me it's a lot of static for anybody pondering a stake in CBS at the moment. Maybe it's best to tune out the "what-ifs" and wait to see what this new(ish) executive dials up.
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Alyce Lomax does not own shares of any of the companies mentioned.