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In seven-station swap, CBS Radio sheds WQSR in Baltimore

Radio Facts: As part of its plan to trim 50 radio stations from its portfolio, CBS has dropped one of its five Baltimore holdings,...

CBS Radio, Clear Channel in radio station swap

Radio Facts:

CBS Radio, a unit of media company CBS Corp., said Monday it will swap five mid-size market radio stations for two of Clear Channel Communications Inc. large-market stations. The deal, which helps CBS in its attempt to concentrate primarily on large markets, satisfies some Department of Justice conditions related to Clear Channel's acquisition by Thomas H. Lee Partners LP and Bain Capital Partners LLC Clear Channel was bought by Bain Capital Partners and Thomas H. Lee Partners in July in a deal valued at $17.9 billion plus $5.9 billion in debt. As part of the transaction, Clear Channel will take CBS Radio's Seattle, Baltimore and Sacramento, Calif., radio stations as well as two stations in Portland , Ore. CBS Radio will receive two stations in Houston.Shares of CBS added a penny to $8.21 in morning trading.  Top of page

cbs radio, clear channel