You may be aware that the vultures are circling around Sumner Redstone, the uber progressive that has a controlling interest in both CBS and Viacom
Les Moonves (who runs CBS) is making his move – hoping to leverage CBS to recombine Viacom and CBS.
Nothing like that is going to happen unless Redstone wants it to happen or he is unable to fight back – he is 91 and has already fought one battle with his daughter over control of his empire.
Sit down before you read any further and pull your car over if you’re web reading while driving.
So the rumor that has been floating around for at least a year is that CBS wants out of the radio business if it can figure out how to transfer ownership to Cumulus Media.
This is a little problematic as the combined company would be way over the FCC ownership caps and face certain rejection by the Antitrust Section of the Department of Justice – unless of course the Ruler of America for life waves his hand and repeals antitrust regulations. Republicans may well support repeal of the Sherman Act and ending the Federal Trade Commission.