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Infinity Broadcasting Renamed to CBS Radio

In anticipation of Viacom Inc.'s separation of its businesses (December 14, 2005)

In anticipation of Viacom Inc.'s separation of its businesses, the CBS Corporation unveiled plans today to re-brand its radio division CBS Radio. Formerly known as Infinity Broadcasting, the division includes 179 market-leading radio stations, the majority of which are in the nation's Top 50 markets. The announcement was made jointly today by Leslie Moonves, Chief Executive Officer and President of the new CBS Corporation, and Joel Hollander, Chairman and CEO of CBS Radio.

"This is a proud moment for all of us who love the CBS name, and who know the storied history of CBS Radio," said Moonves. "It is one of the most revered brands in broadcasting, with a history that predates the television era. CBS Radio was there at the infancy of radio, playing a formative role in shaping and building this dynamic industry, and we're incredibly proud to bring it back."

"In reclaiming the CBS Radio name, our division will embrace that strong legacy of quality and leadership while at the same time look towards the future, leveraging our great brands, talent and market-leading positions as we forge new ground in distribution, content and technology," said Hollander. "It's only natural that we'd want to use the CBS Radio name to re-brand our radio stations, which will continue to innovate and redefine our industry much as they have throughout the last 75 years."

The re-branded CBS Radio will feature as part of its slogan "Broadcast ... HD ... Streaming ... On-Demand," which its stations are now actively pursuing throughout the country. The original CBS Radio was founded in 1928, when William Paley purchased a company comprised of 16 independent radio stations which he turned into one of the first radio networks. The CBS Radio of today includes many of those same stations, which continue to lead their markets. Additionally, the division is home to 29 of the country's leading sports franchises amongst MLB, the NFL, the NBA, the WNBA, and the NHL including the New York Yankees, New York Mets, Los Angeles Dodgers, Dallas Cowboys, New England Patriots, New York Giants, Chicago Bears and the Detroit Red Wings. CBS Radio will continue to be run by Hollander, who will continue to report to Moonves.

Upon the separation of Viacom Inc.'s businesses, the CBS Corporation will be a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, will combine broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It will have operations in virtually every field of media and entertainment, including broadcast television (CBS and UPN), cable television (Showtime), local television (CBS Television Stations), television production and syndication (Paramount Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products).

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Related Keywords:Viacom, CBS Corporation, CBS Radio, Infinity Broadcasting, CBS Radio

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