CBS Said to Permit Bankers to Solicit Buyers for Billboards

CBS Corp., owner of the most-watched U.S. TV network, was approached by bankers interested in finding buyers for its billboard unit and agreed to listen to proposals, said a person with knowledge of the situation.

CBS agreed to meet potential buyers, the person, who wasn’t authorized to talk publicly, said late yesterday. The media company didn’t sign an agreement or agree to a term sheet and doesn’t plan to distribute an offering book, said the person, who declined to identify the bankers.