CBS' Moonves: "We Still Believe In Radio"

Les Moonves (CNBC)

Appearing Thursday on CNBC's Closing Bell show, host David Faber asked CBS CEO Les Moonves about radio in his company's portfolio.

Moonves admitted the company might "trim down radio" in smaller markets.

"We still believe in radio. It is a slow growth radio. Not as fast as some of our other businesses. We like it."

Mooves re-iterated that radio's "a great business. Radio is a content business."

He pointed out that CBS has developed our Sports Radio Network which works in concert with other divisions: CBS Sports Network and CBS Sports and Showtime.

And  Moonves ruled out CBS selling out of radio completely.  The smaller markets may include Hartford, Las Vegas, Orlando, Palm Springs and Riverside.

In the past, Moonves has stated CBS has always been willing to sell some stations, but the asking price has been way too steep.