{"id":24244,"date":"2015-03-25T19:49:54","date_gmt":"2015-03-25T23:49:54","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=24244"},"modified":"2015-04-17T20:03:57","modified_gmt":"2015-04-18T00:03:57","slug":"cbs-radio-4","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2015\/03\/25\/cbs-radio-4\/","title":{"rendered":"CBS Radio"},"content":{"rendered":"
by\u00a0WYATT DILLON<\/pre>\n
\"CBS<\/a>
CBS Radio Logo – Courtesy of Billboard.com [a]<\/a><\/p><\/div>Contact Information: [1]<\/a><\/strong><\/p>\n
1271 Avenue of the Americas FL 44<\/p>\n
New York, NY 10020<\/p>\n
(212) 649 \u2013 9600<\/p>\n
www.cbsradio.com<\/a><\/p>\n
Key Executives:<\/strong><\/p>\n
Dan Mason<\/a> – President and CEO<\/p>\n
Anton Guitano<\/a> – Chief Operating Officer<\/p>\n
Scott Herman<\/a> – Executive VP, Operations<\/p>\n
Michael Weiss<\/a> – President, Sales<\/p>\n
Additional Executive Biographies<\/a><\/em><\/p>\n
Top Competitors:<\/strong><\/p>\n
CBS Radio’s largest competitors are iHeart Media, Inc<\/a>. and Radio One<\/a>\u00a0in addition to digital players such as Pandora<\/a>.<\/p>\n
Brief History:\u00a0<\/strong><\/p>\n
A division of Columbia Broadcasting System Corporation<\/a>, CBS Radio was founded in late 1927 by Arthur Judson<\/a>. \u00a0In 1999, Viacom<\/a> acquired CBS Corporation for $37 billion from Westinghouse Broadcasting [2]<\/a>. Starting in 1996, CBS Corporation’s Radio division was called Infinity Broacasting until it reverted back the historical CBS Radio<\/a> in 2005.<\/p>\n
In 2006, CBS Corp. and Viacom split<\/a> into two publicly traded companies<\/a> and are traded on the New York Stock Exchange.<\/p>\n
Current Events:<\/strong><\/p>\n
Going Digital-<\/span><\/p>\n
In early January of 2015, CBS Radio invested in the digital radio platform\u00a0and developed the new podcasting network, Play.it<\/a> [3]<\/a>. Available online and via mobile apps, Play.it combines hundreds of original podcasts with content from leading media\u00a0brands ranging from sports to 48 Hours<\/a> and 60 Minutes<\/a>. With content available to stream or download, CBS Radio hopes to compete in the growing digital radio market.<\/p>\n
By further extending\u00a0the CBS Radio brand to the digital market, CBS Corp. plans to see a growth in annual radio profits. CBS Corporation CEO and President Leslie Moonves<\/a> explained in a recent interview:<\/p>\n
“Radio also continues to be profitable, … and we continue to build new audiences in radio, by extending our big-market content into the digital world.” [4]<\/a><\/p>\n
– Leslie Moonves<\/p><\/blockquote>\n
Financials:<\/span><\/p>\n
\"as<\/a>
CBS Corporation Stock Index as of 12:50pm on April 17, 2015 \u00a0[5]\u00a0<\/a>courtesy of Yahoo Finance [b]<\/a><\/p><\/div>CBS Corporation is a publicly traded company on the New York Stock Exchange<\/a>\u00a0and on\u00a0April 17, 2015, was traded at $60.63 per share. Due\u00a0to a strong fourth quarter by CBS Corp., the company’s stock value lies between the 52 week low of $48.83 and the 52 week high of $65.24 [6]<\/a>.<\/p>\n
CBS Corporation reported a strong fourth quarter on December 31, 2014. Although total revenue for 2014 was down 9.67% from 2013, reporting $13.81 billion, the fourth quarter numbers saw a spike compared to the previous year’s final quarter. Due\u00a0to Thursday Night Football and the Midterm Elections, the total advertising revenue for CBS Corp. rose 4.1% to $2.14 billion, and CBS Radio revenues increased by 2% in the fourth quarter of 2014\u00a0[7]<\/a>.<\/p>\n
The 2015 first quarter earnings report for CBS Corporation is scheduled to be announced on May 7, 2015 [8]<\/a>.<\/p>\n
Stronghold in Sports-<\/span><\/p>\n
Thus far in 2015, sports has been at the epicenter of conserving CBS Radio’s dominance in many major markets. In early January, CBS Radio announced its new deal with the Chicago Cubs<\/a> to stream all games at live performances at Wrigley Field [9]<\/a>. Purchasing the rights for seven years, CBS Radio’s deal with the Chicago Cubs dismisses a 90 year relationship between the Chicago baseball team and WGN-AM 720<\/a>.<\/p>\n
Also in January, CBS Radio announced it will become the exclusive program provider of the Baltimore Orioles<\/a> on 105.7 WJZ-FM<\/a>. After being out-bid in 2010, CBS Radio regains the rights to broadcast Orioles games [10]<\/a>.<\/p>\n
These two tremendous deals improve the amount of sports programming CBS\u00a0Radio controls, adding more content to the already impressive 330 AM and\u00a0FM stations, including some in each of the top 10 markets [11]<\/a>.<\/p>\n
In addition, CBS Radio announced in late March a deal<\/a> with the Philadelphia Eagles<\/a> and SportsRadio 94WIP<\/a> for a multi-year broadcast partnership. This deal furthers\u00a0CBS Radio’s control in major market sports play-by-play. The deal includes a new HD Radio<\/a> station devoted to yearly around the clock Eagles coverage.<\/p>\n
In addition to the Philadelphia Eagles, CBS Radio provides play-by-play broadcasting to NFL Franchises including the New York Giants<\/a>, New England Patriots<\/a>, Dallas Cowboys<\/a>, Chicago Bears<\/a> and many more.<\/p>\n
New Leadership:<\/span><\/p>\n
Arguably the largest story of 2015 for CBS Radio is the sudden retirement of CBS Radio President and Chief Executive Officer, Dan Mason [12]<\/a>.<\/p>\n
After 17 years total with the company and 15 years as President and CEO, Dan Mason finds a successor in Andre Fernandez, previously President and COO of Journal Communications<\/a>. Dan Mason leaves CBS with a legacy<\/a> of launching dozens of new stations, refurbishing failing stations in major markets, moving CBS to the digital game with Play.it, and incorporating HD stations to the arsenal of CBS Radio.<\/p>\n
As for his successor, Fernandez has a long history of success in the broadcasting industry, working in key financial roles at the General Electric Company and Telemundo\u00a0[13]<\/a>. In CBS Radio’s press release on the matter, CBS Corp. President and CEO, Leslie Moonves said:<\/p>\n
\u201cAndre is a terrific executive who brings a wealth of experience to this role \u2013 operations, financial management, programming and digital distribution, among many other attributes [14<\/a>]”<\/p>\n
-Leslie Moonves<\/p><\/blockquote>\n
Broadcast Stations:<\/span><\/p>\n
In addition to housing top-rated play-by-play sports stations in over a dozen major markets in the United States, CBS Radio owns and operates all 10 top rated stations rated by Nielson Audio<\/a>. CBS Radio claims to reach over 72 million consumer weekly, owning 117 total radio stations in 26 markets\u00a0[15]<\/a>.<\/p>\n
Recently, CBS Radio\u00a0has been reformatting stations to obtain higher ratings. In early December 2014, CBS Radio traded 14 stations in Tampa, Philadelphia and Charlotte for 5 stations in Miami and Philadelphia [16]<\/a>. One station, WRDW-FM 96.5<\/a>, struggled with a consistently low share of the market, constantly being outperformed by\u00a0iHeartRadio’s WIOQ 102.1<\/a>. 96.5 Amp is currently ranked 19 in the Philadelphia market with a share of 2.3, and iHeartMedia, Inc.’s WIOQ hold a share of 4.7, currently ranked 8 in the market [17]<\/a>. On April 10, 2015, CBS Radio\u00a0announced its Philadelphia station 96.5 FM will reformat from Rhythmic CHR to a pop mainstream contemporary hit format<\/a>\u00a0[18]<\/a>.<\/p>\n
The Altitude Group<\/span>:<\/p>\n
Leading\u00a0the advertising department of CBS Radio is the Altitude Group<\/a>. Directed with connecting consumers with companies, the Altitude Group’s client list includes Walgreens, Allstate, MasterCard, Mercedes, and much more<\/a>.<\/p>\n
On March 9, CBS Radio named\u00a0Tony Mennuto as\u00a0Vice President, Branded Content <\/a>Solutions\u00a0of the Altitude Group.\u00a0His position is essential\u00a0to promoting the CBS Radio brand through original content as well as through live-venues and performances. CBS Radio hopes Mennuto\u00a0will bring fresh\u00a0advertising content to be distributed throughout all stations and assets, from television\u00a0to digital media [19]<\/a>.<\/p>\n
Community Outreach:<\/span><\/p>\n
On June, 16, CBS Radio’s 830 WCCO-AM<\/a>\u00a0in Minnesota is receiving\u00a0the Service to America Award from the National Association of Broadcaster’s Education Foundation<\/a>. The award honors outstanding community service by local television and radio broadcasters [20]<\/a>.<\/p>\n
Due to the WCCO-AM’s\u00a0Public Service Announcements, events, and fundraisers for the Minnesota community [21]<\/a>, the station\u00a0assisted the hungry through a year-long campaign, collecting 1.73 million pounds of food [22]<\/a>.<\/p>\n
CBS Radio Operations:<\/span><\/p>\n
While revenues for CBS Corporation have slowed in growth in past years, the company\u00a0continues to stand behind its radio business, CBS Radio. Despite a hedge fund lobbying the corporation to merge with Cumulus Media<\/a>, CBS Corp. understands the value of CBS Radio’s assets in the digital market\u00a0[23]<\/a>.<\/p>\n
Because CBS Radio possesses a highly diverse presence in a large number of markets, advertisers see a value in the ability to select a station that fits their target audience. This proves to be valuable to the revenue of CBS Corporation, and with a growing audience in all 10 of the top markets, the value of CBS Radio can not be understated [24]<\/a>.<\/p>\n
Although advertising spending on radio has fallen in recent years from 6% in 2013 to 4% in 2014, these numbers do not include digital radio, in which CBS is beginning innovate and\u00a0create products and\u00a0platforms to break into the digital industry [25]<\/a>.<\/p>\n
\"play.it<\/a>
play.it logo. Courtesy of play.it [c]<\/a><\/p><\/div>\n
Text Sources:<\/strong><\/p>\n
[1] CBS Radio Contact<\/a> Retrieved April 15, 2015<\/p>\n
[2] CBS Merges with Viacom<\/a> Retrieved April 16, 2015<\/p>\n
[3] CBS Radio Develops Play.it<\/a> Retrieved April 16, 2015<\/p>\n
[4] CBS Radio Rises with Good 4th Quarter<\/a> Retrieved April 16, 2015<\/p>\n
[5] CBS Corporation Stock<\/a> Retrieved April 16, 2015<\/p>\n
[6] CBS Corp. Annual Income Reports<\/a> Retrieved April 15, 2015<\/p>\n
[7] 2015 CBS Corporations 4th Quarter Finances<\/a> Retrieved April 15, 2015<\/p>\n
[8] CBS Corp. to Report 2015 First Quarter Earnings on 05\/07<\/a> Retrieved April 15, 2015<\/p>\n
[9] CBS Radio announces WBBM-AM as Chicago Cubs Radio Station<\/a>c Retrieved April 16, 2015<\/p>\n
[10] Orioles Return to CBS Radio after 5 Years<\/a> Retrieved April 16, 2015<\/p>\n
[11] CBS Sports Radio<\/a> Retrieved April 16, 2015<\/p>\n
[12] Andre Fernandez Named Mason Replacement in Press Release<\/a> Retrieved April 15, 2015<\/p>\n
[13] Andre Fernandez Replaces Mason<\/a> Retrieved April 16, 2015<\/p>\n
[14] CBS Radio Press Release, Andre Fernandez Replaces Dan Mason as President<\/a> Retrieved April 16, 2015<\/p>\n
[15] CBS Radio Profile Broadcasting<\/a> Retrieved April 16, 2015<\/p>\n
[16] CBS Radio trades with Beasley Broadcast Group<\/a> Retrieved April 17, 2015<\/p>\n
[17] Philadelphia Market Share<\/a> Retrieved April 17, 2015<\/p>\n
[18] CBS Radio Reformats New Philadelphia Station<\/a> Retrieved April 17, 2015<\/p>\n
[19] Tony Mennuto Named VP Branded Content in Press Release<\/a> Retrieved April 17, 2015<\/p>\n
[20] Service to America Awards Recipients<\/a> Retrieved April 17, 2015<\/p>\n
[21] CBS Press Release 830 WCCO-AM to Win National \u00a0Community Service Award <\/a>Retrieved April 17, 2015<\/p>\n
[22] CBS Radio Local Station leads state’s largest food drive<\/a> Retrieved April 17, 2015<\/p>\n
[23] Forbes Ad Spending on Digital Changes CBS Radio’s Value<\/a> Retrieve April 17, 2015<\/p>\n
[24] Hedge Fund Pressures CBS to Merge Radio with Cumulus<\/a> Retrieved April 17, 2015<\/p>\n
[25] Marketing Charts Advertising Trends<\/a> Retrieved April 17, 2015<\/p>\n","protected":false},"excerpt":{"rendered":"
by\u00a0WYATT DILLON Contact Information: [1] 1271 Avenue of the Americas FL 44 New York, NY 10020 (212) 649 \u2013 9600 www.cbsradio.com Key Executives: Dan Mason – President and CEO Anton Guitano – Chief Operating Officer Scott Herman – Executive VP, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":453,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4421],"tags":[4455,4456,4460,4458,4462,4451,4453,4457,4452,4461,4459,4454,270,134,4584,306],"_links":{"self":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/24244"}],"collection":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/users\/453"}],"replies":[{"embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/comments?post=24244"}],"version-history":[{"count":15,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/24244\/revisions"}],"predecessor-version":[{"id":25196,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/posts\/24244\/revisions\/25196"}],"wp:attachment":[{"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/media?parent=24244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/categories?post=24244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bejone03.expressions.syr.edu\/trf235\/wp-json\/wp\/v2\/tags?post=24244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}