Deals
CBS to Complete CBS Outdoor Spinoff by Divesting 81% Stake
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CBS Corp. took the final step in the spinoff of its billboard business following CBS Outdoor Americas Inc.’s initial public offering, with a plan to fully divest its 81 percent ownership.
The exchange offer is expected to be tax free for shareholders in the U.S., New York-based CBS, owner of the most-watched television network, said today in a statement.