No, CBS does not own Audacy. Audacy is an independent, publicly traded audio content and entertainment company. The confusion often arises due to Audacy's historical acquisition of CBS Radio and its continued operation of some networks that previously carried the CBS brand.
The Relationship Between CBS and Audacy
The relationship between CBS and Audacy stems from a significant transaction that reshaped the radio industry. In 2017, Entercom Communications, which later rebranded to Audacy, acquired CBS Radio, the former radio division of CBS Corporation. This acquisition made Entercom (now Audacy) one of the largest radio broadcasters in the United States.
Upon the acquisition, Audacy inherited the network of radio stations and content that previously belonged to CBS. As part of this deal, there was an agreement necessitating a brand change for the acquired assets. This meant that while Audacy gained control of the operations, the iconic CBS Eye logo and certain CBS branding elements had to be phased out. The removal of the CBS Eye logo from the network's branding and marketing efforts began in 2019, with the full brand change stipulated to be completed by the end of 2020.
Key Milestones in the Transition
The separation of CBS's radio assets from the parent company and their integration into Audacy involved several important steps:
- 2017: Entercom Communications completed its merger with CBS Radio. This pivotal transaction saw CBS Corporation divest its radio station group to Entercom, making Entercom a major player in the radio industry.
- 2019: Following the acquisition, efforts to rebrand the inherited networks began. The CBS Eye logo, a highly recognizable symbol of CBS, started to be removed from the branding and marketing materials of the acquired networks.
- 2020 (End of Year): The acquisition agreement stipulated that a comprehensive brand change for the former CBS Radio assets must be completed by this time, fully separating the branding from CBS.
- 2021: Entercom Communications officially rebranded itself as Audacy, further solidifying its distinct identity as an independent audio content company.
Understanding the Current Landscape
Today, Audacy operates a vast portfolio of local and national radio stations, digital platforms, and podcast content. While some networks, like CBS Sports Radio, might still carry a legacy name, they are operated by Audacy under license or as part of the post-acquisition transition, not under the ownership of CBS.
Audacy's operations are entirely separate from Paramount Global, which is the parent company of CBS, Showtime, Paramount Pictures, and other media brands. This distinction is crucial for understanding the ownership structure in the modern media landscape.
- Audacy: An independent, publicly traded company focused on audio content, including radio, podcasts, and digital audio platforms. Learn more at Audacy.com.
- CBS (part of Paramount Global): A major broadcast television network and content producer. Discover more about CBS at CBS.com.
In essence, while Audacy's portfolio includes assets that were once part of CBS, they are now under Audacy's complete ownership and operational control, marking a clear separation from CBS.
