Yahoo To Let CBS Run Internet Radio Business
Yahoo’s plate is more than full at the moment; between battling Google, losing its CEO, and facing takeover rumors, figurative food is piled to the ceiling. It makes some sense, then, that responsibility for Yahoo Music’s Launchcast Radio is getting largely handed to CBS.
CBS Radio is a huge operator, and CBS Radio will power Launchcast starting early next year. A new CBS Radio player will be offered through the Yahoo Music site, and CBS Radio is even scheduled to take over advertising sales.
Yahoo, in return, will see its name put in front of much a larger audience, since CBS Radio should bring about 150 stations to the table. Yahoo should continue to program its own music channels, as well, so there’s little danger of users getting scared off by new formats.
As for how outside companies are supposed to feel about the development, David Goodman, CBS Radio’s president of digital media and integrated marketing, pointed out in a statement, "Partnering with Yahoo! ensures advertisers will be able to reach the greatest possible audience as we leverage our local and national sales force, as well as TargetSpot, to create distinctive campaigns and one of a kind integrated opportunities."
It sounds like a no-lose situation for just about everybody. Shares of CBS stock, by the way, rose 14.2 percent today perhaps thanks to this and several other news items.