by Sarah Shelton
New York, NY 10036
About CBS Radio
CBS Radio, a division of the television and radio company CBS Corporation, is the third largest radio station owner and operator in America with 127 broadcast stations in 28 major markets across the country under its control, and over 70 million listeners tuning in weekly. Its flagship broadcast formats are sports, news and talk, and CBS Radio continues to be the largest broadcaster of play-by-play coverage and discussion of the major sports franchises in America, including the MLB, NFL, NBA, and NHL. CBS Radio also offers local digital media in over two dozen markets in the US, with local traffic, news, weather as well as other recorded content for on demand access on the Internet and custom mobile apps. CBS Radio’s particular attention to on-air personalities has made it a continual standout in the increasing switch to automated and syndicated radio programming for broadcast radio today.
Dan Mason was named president and CEO of CBS Radio in 2012 and oversees all stations as well as the day-to-day operations of the subsidiary. He reports directly to CBS Corporation CEO, Leslie Moonves. Mason has been with CBS Radio for almost two decades, previously serving as an advisor and consultant before stepping up for the role of CEO. He has an extensive background in radio programming and his success with the strategic growth of CBS stations has been reflected in ratings from listeners of all ages.
Kevin Weatherly is the Senior Vice President of Programming at CBS Radio, the Program Director of the top stations in the Los Angeles market, and also Kevin of Kevin and Bean, the flagship personalities of LA’s KROQ FM. He has been with CBS Radio for over two decades, helping develop audiences for fledgling bands through strategic programming and monumental development for the music industry and radio relationship. He has received accolades and awards from virtually every music publication, including Rolling Stone Magazine, Billboard, Entertainment Weekly and more.
A Brief History
In 1927, talent agent Arthur Jodson created the radio network United Independent Broadcasters in order to showcase the artists that he was working with and as an act of defiance to his employer for refusing to include his roster in their broadcasts. He named the new venture United Independent Broadcasters, but was soon merged with the Columbia Phonograph Company after financial struggles threatened to bury the station before it had even begun. Under the new name Columbia Phonograph Broadcasting Company, the station was launched in September 1927 and quickly grew to earn affiliates and employees, enough to catch the eye of investor William Paley, who bought the station in January 1929 rebranded as Columbia Broadcasting System (CBS). The station continued to grow by embracing advertising, and became a frontrunner in national radio. The company also expanded with ventures in television and film, putting CBS on the map as one of the top media companies in the world. After being outbid for the rights to NFL Broadcast in 1993 and under new leadership, CBS was sold to Westinghouse Corporation for $5.4 billion and put under the control of Viacom. In 2005 with the economic downturn, the television and film divisions of CBS were spun off under Viacom to improve stock market performance and the radio sector along with Infinity Broadcasting, a division of Viacom, were merged and rebranded as the new CBS Radio.
Timeline of Recent Events
On January 2, 2013, CBS Radio launched the largest major market 24 hour sports stations featuring high profile personalities, player and coach interviews, national game coverage and more. This is an effort to condense the 10 million listeners that tune in weekly to over 100 CBS affiliate stations for sports programming, and is meant to compete with rival ESPN Radio.
On January 3, 2013, CBS streamed Bon Jovi’s Tampa concert on Radio.com, the first live event streaming venture for the company. This is meant to rival the live streaming features of iHeartRadio, currently the frontrunner in online radio streaming and app-based radio services, and will lead to many more given the success. A first attempt in December 2012 was postponed due to a major storm affecting the East Coast.
On February 7, 2013, Kevin Weatherly announced a renewal of his contract with CBS Radio, after more than 20 years of unparalleled contribution to the music industry and radio programming today. An on air personality himself on KROQ FM as well as a main contributor to radio’s second largest market in the nation, Los Angeles, Kevin is excited to continue to use his skills and expertise to benefit CBS Radio.
The pioneering program CBS World News Roundup celebrated its 75th anniversary on March 13, 2013. It is the longest running newscast in history and provided a benchmark from which modern newscasts would be modeled. News programming was the capstone of CBS Radio programming in the 1950s and 1960s, when Americans turned to radio for entertainment and realtime war coverage. Legendary reporters such as Robert Trout and Edward R. Murrow got their start and made their mark on this program.
On March 27, 2013 CBS reported fiscal year-end results: revenue is up 2% to $3.7 billion and says that revenues from non-advertising sources is growing even faster than those from advertising.
As a venture of CBS Corporation, the stock price of CBS Radio is dependent on the overall stock performance of all areas of the company in the market. As of April 5, 2013, CBS Corporation stocks are at 45.20 a share, with over 8 million shares on the market. The stock prices tend to fluctuate and rise around the most popular sports seasons, but typically stick around 45.00 a share.