You will be redirected back to your article in seconds

CBS Selling Stake in CBS Outdoor

CBS is selling its 81% stake in CBS Outdoor Americas Inc.

The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million.

CBS Outdoor, which was focused on billboards, electronic displays and other outdoor advertising, will become a real estate investment trust following the split.

“We fully believe that CBS Outdoor will continue to be successful as a stand-alone company,” Leslie Moonves, president and chief executive officer of CBS Corporation, said in a statement. “And for our part, CBS Corporation can focus on what we do best, which is invest, produce and distribute premium content across all platforms and all around the world.”

CBS said the exchange offer will be tax free to its shareholders.

More TV

  • Tom Jones Opens Up about Harassment

    Tom Jones Opens Up about Harassment and Abuse in the Music Industry

    CBS is selling its 81% stake in CBS Outdoor Americas Inc. The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million. CBS Outdoor, which was focused on billboards, electronic displays and […]

  • Ted Sarandos Harvey Weinstein

    Netflix and Weinstein Company: Closer Than 'Arm's Distance'

    CBS is selling its 81% stake in CBS Outdoor Americas Inc. The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million. CBS Outdoor, which was focused on billboards, electronic displays and […]

  • Salvation CBS

    'Salvation' Renewed for Season 2 at CBS

    CBS is selling its 81% stake in CBS Outdoor Americas Inc. The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million. CBS Outdoor, which was focused on billboards, electronic displays and […]

  • Chelsea Netflix

    Chelsea Handler's Netflix Talk Show to End After Two Seasons

    CBS is selling its 81% stake in CBS Outdoor Americas Inc. The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million. CBS Outdoor, which was focused on billboards, electronic displays and […]

  • CMT 'Artists of the Year' Lauds

    Jason Aldean, Luke Bryan, Chris Stapleton, More: Get to Know CMT's Artists of the Year

    CBS is selling its 81% stake in CBS Outdoor Americas Inc. The broadcaster will divest itself in an exchange offer that will complete a planned spin-off. The move follows CBS Outdoor’s initial public offering in April, which helped the company raise more than $550 million. CBS Outdoor, which was focused on billboards, electronic displays and […]

More From Our Brands

Access exclusive content