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CBS Corp's radio unit files for IPO

July 8 (Reuters) - CBS Radio Inc filed for an initial public offering with U.S. securities regulators on Friday, months after its parent, CBS Corp, said it would explore strategic alternatives for its radio business.

CBS Corp Chief Executive Les Moonves said in March that the media company would explore a number of options, including a possible spin-off similar to the one it did with its outdoor advertising business in 2014.

CBS Radio set a nominal fundraising target of $100 million in its filing with the U.S. Securities and Exchange Commission. (http://bit.ly/29wTzRj)

The filing did not reveal how many shares the company planned to sell or their expected price.

CBS Radio, which has over 117 radio stations, focuses on sports, news, music and entertainment.

The company, founded in 1928, reported revenue of $264.1 million for quarter ended March 31, down from $271.1 million a year earlier. Operating income was $55.7 million, up from $52.7 million.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

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