CBS Sports launching radio network
June 22, 2012
A few weeks ago, NBC Sports announced that it was starting its own radio network, starting slowly with hourly updates, daily features and a few full-length programs.
It seems CBS Sports will enter the field more aggressively.
Yesterday it announced the launch of CBS Sports Radio, a 24-hour, seven-days-a-week venture that will have a presence in nine of the country's top 10 markets upon its debut.
Cumulus Media will syndicate the network, which will be made available on 67 of its stations, giving CBS Sports Radio a big initial footprint.
CBS claims that it will have an audience reach of 10 million at launch.
Cumulus will also be ending its agreement with EPSN with the move, a major change in a sports radio advertising market that's estimated at $150 million annually by Wells Fargo.
"While the sports radio business is currently dominated by ESPN (owned by Disney's ABC Radio), we believe that CBS' new network could garner a significant share of the market as early as 2013," wrote Wells Fargo senior analyst Marci Ryvicker in a note sent to investors yesterday.
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