CBS Corporation Completes Sale of Radio Stations in Denver to Wilks Broadcasting
March 9, 2009
CBS CORPORATION COMPLETES SALE OF RADIO STATIONS IN DENVER TO WILKS BROADCASTING
CBS Corporation (NYSE: CBS and CBS.A) today announced that it has completed the previously announced sale of three radio stations in Denver, KWLI-FM, KIMN-FM and KXKL-FM, to Wilks Broadcasting for $19.5 million in cash.
About CBS Corporation
CBS Corporation is 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, combines 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 has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.
About Wilks Broadcasting
Wilks Broadcasting is a radio broadcasting company established as a platform to acquire and operate stations in attractive mid-size U.S. markets. Its current
portfolio consists of 18 FM stations across five markets that include Kansas City, MO, Columbus, OH, Fresno, CA, Reno, NV and Lubbock, TX. Wilks is an affiliate of The Wicks Group of Companies, L.L.C., a private equity firm focused on investing in selected segments of the communications, information and media industries, including numerous transactions in the radio and television broadcasting sectors. For more information on Wilks, please visit www.wilksbroadcastgroup.com.
Dana McClintock 212-975-1077 email@example.com
Andrea L. Prochniak 212-975-0053 firstname.lastname@example.org
Karen L. Mateo 212-846-7638 email@example.com
Jeff Wilks 404-909-0660 firstname.lastname@example.org
The Wicks Group
Craig Klosk 212-838-2100 email@example.com
E.J. Sloboda 212-838-2100 firstname.lastname@example.org