CBS Sells 7 TV Stations to Cerberus

Cerberus Capital Management has agreed to acquire seven television stations from CBS Corp. (NYSE: CBS) for $185 million. The deal includes stations in < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Austin, Salt Lake City, Providence and West Palm Beach, and is subject to FCC approval. Cerberus was advised on the deal by CobbCorp and Wachovia Capital Markets.