Media conglomerate CBS revealed in a debt offering document last week that it intended to file an S-1 this month for the IPO of its radio broadcasting unit, cbs radio, a business with estimated annual revenues of US$1.2bn. Better known for its leading US TV network, CBS flagged earlier this year it was exploring strategic options to separate the radio business. In May, CBS chief executive Les Moonves conceded radio was a "slow growth business". "It's [growth is] going to be in the low single digits so it sort of doesn't fit with us. We have become more of a video company," he told analysts.
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