American broadcasting giant CBS is to sell another 50 radio stations in 12 mid-size markets across the States, as a direct result of declining ad revenue.
Just two years ago the company owned around 180 radio stations after merging with Infinity Broadcasting in 1997. It recently sold 40. Once these planned sales complete, CBS will be left with 90 radio stations.
CBS owns the majority of the Jack FM branded stations in America, plus New York oldies station CBS FM.