CBS Corp., a television company that also owns a large radio broadcasting business, said Tuesday it will consider selling radio stations in 10 smaller markets.
CBS, which split with Viacom Inc. at the beginning of the year, has said it would trim its portfolio of smaller-market stations as part of a broad effort to revitalize its struggling radio business. Most of CBS Radio’s stations are in larger markets.
The 39 stations CBS is considering selling are located in San Antonio and Austin, Texas; Buffalo, N.Y., and Rochester, N.Y.; Cincinnati and Columbus, Ohio; Fresno, Calif.; Greensboro-Winston/Salem, N.C., as well as Kansas City, Mo., and Memphis, Tenn.
Radio revenue have been stagnant in recent years as the industry feels pressure from the growing use of portable listening devices such as iPods and satellite radio.
In April CBS reported that its radio revenue fell 6 percent in the first quarter due to lackluster advertising and programming changes at 27 of its stations. At the time, CEO Leslie Moonves said the company would “actively adjust” its portfolio in an effort to revive growth in the division.
CBS Radio currently has 179 stations in 39 markets around the country.
The announcement about the radio stations came a day after CBS said it was selling its Paramount Parks division to amusement park operator Cedar Fair L.P. for $1.24 billion.