Jan. 17 (Bloomberg) -- CBS Corp. jumped in extended trading after saying it will convert its outdoor advertising division into a real estate investment trust and seek a buyer for the European and Asian parts of the business.
Shares of CBS Corporation (NYSE:CBS) have kicked in strong since January, registering an 11.6% gain year-to-date. As of late, the company has found itself in the middle of rumors regarding a potential buyout by Time Warner Inc. (NYSE:TWX) or Viacom Inc (NYSE:VIAB).
CBS (CBS) Q1 2014 Earnings Call May 08, 2014 4:30 pm ET
Adam Townsend - Executive Vice President of Investor Relations Sumner M. Redstone - Founder and Executive Chairman Leslie Moonves - Chief Executive Officer, President and Director Joseph R. Ianniello - Principal Financial Officer and Chief Operating Officer
Benjamin Swinburne - Morgan Stanley, Research Division