Cbs Will Consider Selling Billboard Unit -- For $6 Billion

0
0
Subscribe to Wall Street alerts

Following a Wall Street Journal report on Monday that CBS would be willing to consider the sale of its Billboard company, CBS Outdoor, if it received an offer of around $6 billion for it, a group of bankers has reportedly approached the media company and offered to find such a buyer. Bloomberg News, citing an unnamed person with knowledge of the situation, reported on Tuesday that CBS has "agreed to listen to proposals" but did not sign an agreement with the group and has no plans to distribute an offering book. The latest development follows apparent "trial balloon" comments by CBS Chief Financial Officer Joe Ianniello at a London investors conference last week, who remarked, "There's definitely a lot of interest in Outdoor. ... If something comes along that makes some sense, we'll let everybody know." Monday's Wall Street Journal report indicated, however, that while CBS thinks Outdoor is worth $6 billion, some buyers think it's worth closer to $4 billion.

06/06/2012


Contactmusic

Tags: Wall Street - Billboard - Bloomberg - CBS

0
0
Subscribe to Wall Street alerts
Advertisement

More Wall Street

Miley Cyrus Covers Up More Than Usual At FGI Night Of Stars Gala - Part 2

It truly was what it said on the tin at the Fashion Group International's 30th Annual Night Of Stars held at Cipriani Wall Street in...

Leonardo DiCaprio Shoots Scene On Wolf of Wall Street Set

'Inception' actor Leonardo DiCaprio is snapped shooting a scene on the set of his upcoming crime drama movie 'Wolf of Wall Street'. He is seen...

Advertisement

Sean Lennon And Friends Cover Material Girl At Occupy Wall Street

Singer songwriter and film scorer Sean Lennon; his girlfriend Charlotte Kemp Muhl; Charlotte's childhood friend Eden Rice; Rufus Wainwright and Dustin Hamman serenade the crowd...

Sean Lennon Snaps Occupy Wall Street Protestors

Singer songwriter Sean Lennon, his girlfriend Charlotte Kemp Muhl, and Charlotte's childhood friend Eden Rice (who is seen sitting in the background) visit the Occupy...

Advertisement

Comments

Wall Street Newsletter

Subscribe to this news alert service to receive news and reviews on Wall Street

Unsubscribe | Unsubscribe All