Sep 30 2009

CBS Corporation Completes Sale Of Radio Stations In Portland, Oregon To Alpha Broadcasting

CBS Corporation (NYSE: CBS and CBS.A) today announced that it has completed the previously announced sale of four radio stations in Portland, Ore., KINK-FM, KUPL-FM, KUFO-FM and KCMD-AM, to Alpha Broadcasting for $40 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 Television Studios, CBS Studios International 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) and motion pictures (CBS Films). For more information, log on to www.cbscorporation.com.

About CBS RADIO

CBS RADIO, one of the largest major-market operators in the United States with stations covering news, sports, talk, rock, oldies, country, adult contemporary and urban formats, among others, offers audiences an enhanced and customized listening experience through the combination of on-air, online and new media platforms. CBS RADIO operates 130 radio stations throughout the nation’s top 50 markets and broadcasts play-by-play coverage of 26 of the country’s leading professional sports franchises. CBS RADIO also has embraced interactive programming through the use of streaming, HD Radio, podcasts and mobile messaging. The division maintains exclusive agreements with AOL and Yahoo through which CBS RADIO powers AOL Radio and LAUNCHcast, respectively, and distributes its stations to their network of listeners. Home to the nation’s most listened to news (1010 WINS), sports (WFAN-AM), rock (KROQ-FM) and country (WUSN-FM) stations, CBS RADIO is a division of CBS Corporation. For more information on CBS RADIO, please visit www.cbsradio.com.