CBS CEO explains radio status.

moonves-lesCBS Corporation Chairman/CEO Les Moonves appeared on a radio show earlier this week and was asked, “Why the transition out of radio for CBS?” Moonves replied, “As the world has progressed, and as we’ve moved into much more digital—and much more streaming—and it is a world for us that is keyed on video. Radio is still a wonderful, wonderful business. Our intent is to spin off radio so it is its own self-standing company, which will fit better than being part of a big conglomerate like ours, which is keyed more on television.”