Black Wednesday for CBS Radio
July 13, 2006
Yesterday (7/12) was "Black Wednesday" at CBS Radio. As part of the company's restructuring, 115 jobs were cut nationwide, including WCBS-FM/New York VP/GM Chad Brown and KCBS-FM/Los Angeles VP/GM Trip Reeb. The company's radio divison has struggled since the departure of Mel Karmazin to Sirius, and the loss of ad revenue from the move of Howard Stern to Sirius has only intensified the problem.
CBS Radio plans to sell station clusters in several of its smaller markets some time later this year as part of its restructure. Markets announced to be divested that have CBS-owned JACK-FM stations are Fresno, Buffalo, and San Antonio.
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