CBS Corporation (CBS) announced the completion of the divestiture of its four radio stations – KINK-FM, KUPL-FM, KUFO-FM and KCMD-AM – in Portland, OR, to Alpha Broadcasting for $40 million in cash. CBS has been aggressively selling slower-growth radio stations in mid-sized markets to focus on large markets that promise real growth. Management is looking for accretive options to divest more radio stations since the market for station sales has improved. As the company divests non-core assets, it is leveraging its strong balance sheet to deploy cash in higher-growth interactive businesses that complement its core operations. Its acquisition of CNET Networks in June 2008 is notable. It also bought Last.fm, a global community-based music discovery network, in May 2007 for $280 million. Radio operations are in the middle of a secular industry decline and cyclical softening. Radio revenue fell 23% year over year in the ...

Yesterday, CBS Corp. (CBS) agreed to sell four of its radio stations – KINK-FM, KUPL-FM, KUFO-FM and KCMD-AM – in Portland, Oregon, to Alpha Broadcasting (a company formed by radio executive Larry Wilson and Endeavour Capital) for $40 million in cash.

The company has been aggressively selling slower-growth radio stations in mid-sized markets to focus on the large markets that promise real growth. In the past eight months, CBS has divested twelve radio stations. Management is looking for accretive options to divest more radio stations since the market for station sales has improved.

As the company divests non-core assets, it is leveraging its strong balance sheet to deploy cash in higher-growth interactive businesses that complement its core operations. Its acquisition of CNET Networks in June 2008 is notable. It also bought Last.fm, a global, community-based music discovery network, in May 2007 for $280 million.

Radio operations are in

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For Immediate Release

Chicago, IL - May 11, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Lloyds Banking Group plc (LYG), CBS Corporation (CBS), Somaxon Pharmaceuticals (SOMX), Alexza Pharmaceuticals (ALXA) and NeurogesX, Inc. (NGSX).

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Here are highlights from Friday's Analyst Blog:

Lloyds Still Expects a Loss

Today in its first quarter trading update, Lloyds Banking Group plc (LYG, or Lloyds) announced that it still expects to post a loss for full-year 2009 (excluding an accounting gain from negative goodwill) on the back of

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