By William Launder CBS Corp. (CBS) Thursday unveiled plans to launch a sports radio network that will compete with Walt Disney Co.'s (DIS) ESPN Radio, highlighting broadcasters' latest efforts to monetize lucrative sports content. Sports programming is an attractive asset for broadcasters and their advertisers because it is typically watched or listened to in real time by a loyal base of male fans, who tend to be big consumer spenders. CBS plans to launch CBS Sports Radio through a partnership with Cumulus Media Inc. (CMLS), which will distribute CBS content to radio stations nationwide, including 67 stations owned by Cumulus. Following its launch later this year, CBS Sports Radio will initially reach close to 10 million listeners at the country's 50 biggest radio markets, CBS said, including 90% of the country's top ten radio markets. By comparison, ESPN's Audio division reaches around 24 million listeners annually through its own stations and affiliates; making it the country's largest sports radio network, according to its Web site. Following the deal, Cumulus will end its existing ad sales and distribution arrangement with ESPN, and won't renew syndication deals with ESPN at its own radio stations, a person familiar with the partnership said. ESPN's relationship with its affiliates--which it arranges independent of Cumulus--won't be affected, the person said. A spokesman for ESPN Audio wasn't immediately available for comment. The new CBS network will pool content from CBS' existing sports content and radio businesses and provide around-the-clock coverage, CBS said. It will include original talk commentary, scores and other breaking news as well as contributions from CBS Sports' existing on-air personalities. Local affiliates also will be able to customize their sports coverage from existing CBS and Cumulus radio stations, CBS said. "We look forward to bringing to bear the full resources of CBS and capitalizing on an exciting new growth opportunity for the company," CBS Chief Executive Les Moonves said in a press release. Write to William Launder at william.launder@dowjones.com
