The shutdown of CBS News Radio has sparked strong reactions across the audio industry, and few voices carry as much weight on the topic as Traug Keller.
The longtime media executive, who previously led ESPN Radio and ABC Radio Networks, didn’t hold back when discussing the decision. Keller believes the end of CBS News Radio reflects a fundamental misunderstanding of audio’s value and warns it could signal deeper issues for the broader radio business.
“I immediately thought of my old friend Charlie Osgood and said, ‘God, he must be rolling over in his grave,’” Keller said. “It’s such a — I’m searching for the words because I’m old now — but the history is so rich, and as a vehicle to keep so many Americans informed over decades, to see it just evaporate like that was very sad. I guess my initial reaction was that I was profoundly sad.”
While the emotional response came first, Keller quickly turned to the business implications. He didn’t mince words when evaluating the move.
“I think it’s a bad decision,” Keller said. “I understand that the world is going digital, but I think the decision represented a chronic misunderstanding of the value of audio in this country. Big companies, mainly headquartered in either New York or Los Angeles, don’t understand that 90% of the country still gets informed and entertained by terrestrial radio. Never mind the other audio platforms that, as a news provider, you can be ubiquitous on and promote your brand.”
That disconnect, Keller argued, isn’t new. However, he believes it’s become more pronounced as companies chase digital growth at the expense of legacy platforms that still deliver.
“Radio has always had problems convincing advertisers to use the medium, even in its heyday,” Keller stated. “Because it’s invisible, it’s somehow not thought of, yet it informs people on all things — what to wear in the morning because of the weather, for example. It’s still a vital form of information. I point to 1010 WINS in New York and the ratings success it’s currently having. Look at WTOP in Washington. Look around the country at some of these heritage AMs that moved to FM and the success they’re having. Listenership is still strong. It’s still a very effective medium.”
Even more, Keller emphasized that networks like CBS News Radio served a larger strategic purpose beyond direct revenue.
“News providers like ABC News Radio or CBS still have a role to play and benefit their corporate parents because it’s an inexpensive way to extend the brand, market, and move people into the digital ecosystem,” the longtime media executive said.
Despite the challenges facing radio sales teams today, Keller insisted the medium’s core strength hasn’t changed. In fact, he pointed to one of its most enduring advantages — habit.
“Radio listening is habitual. Audio listening is habitual,” Keller said. “I point to my days at ESPN Radio and before that at ABC, where people listened to Tom Joyner, or Sean Hannity, or Paul Harvey, or Mike and Mike. Today, you’ve got others where listeners develop a relationship with the talent.”
That connection, he added, is exactly what advertisers are buying — even if the platform has shifted.
“Advertisers are using podcasts — the Joe Rogan phenomenon is not new,” Keller said. “It’s just Paul Harvey in his day, moved over to podcasts. It’s still audio. Radio still has that. The key to advertising success is to tap into the talent that millions of people are listening to every day. It’s the age-old story: one person telling another person about the value of a product.”
However, Keller acknowledged structural issues have made it harder for radio companies to fully capitalize on that strength.
“Because of deregulation and the financial position many large audio companies find themselves in, they are hindered from really developing the best talent,” Keller stated. “I think iHeart probably does the best job of that right now. But radio still has the goods. It just requires that constant drumbeat, and I grant it’s much harder today than it’s ever been.”
Even so, Keller pushed back on the idea that CBS News Radio couldn’t be financially viable. From his perspective, the bar shouldn’t have been profitability alone.
“The CBS Radio Network business should at least break even,” Keller said. “I have some knowledge of that from having run ABC Radio. They should be able to do that, even in today’s environment, without losing money, while also serving as an incredible way to inform and move people into the company’s digital platforms.”
That leads to a broader argument — one Keller believes executives may be overlooking.
“Yes, I think it can work as a loss leader,” Keller said. “We did this exercise at ESPN. We might have been making X dollars in profit, but in addition to that, we were providing tens of millions of dollars in value — the equivalent of what it would cost in paid media to deliver the same number of impressions. That added up to tens of millions of dollars in value.”
Given that math, Keller said the decision to exit the space raises questions.
“I’d be shocked if CBS Radio Networks was losing significant money,” Keller said. “If it was, then there’s something else going on.”
Looking ahead, Keller believes CBS News Radio may be the first of its kind to exit — but he hopes it won’t be the last lesson learned.
“I would say it’s probably the first,” Keller said. “The people making these decisions have to make hard choices, but they don’t give radio a second thought, and that will be their mistake.”
Still, Keller sees opportunity amid the disruption. In fact, he believes competitors — both traditional and digital — should move quickly to fill the void.
“I think this is a huge opportunity,” Keller said. “There are digital platforms that would be smart to look at the gap that’s been created. There’s still a need for audio content, whether it’s terrestrial radio, particularly FM, SiriusXM, or Spotify. There are real opportunities here.”
He specifically pointed to established brands with infrastructure already in place.
“There’s certainly an opportunity for a brand like ABC, which is already strong, to step it up,” Keller said. “It should be a wake-up call — or it won’t be. I don’t know that it will be ultimately for the CEOs of these companies, because they’re not thinking about radio. You need strong, smart advocates internally to make sure leadership understands the value being provided.”
Finally, Keller made it clear that replacing CBS News Radio wouldn’t be as difficult as some might think.
“That could be done in 90 days, easily,” Keller said. “You’d be able to hire experienced people from CBS. That wouldn’t be hard. You combine that with the news infrastructure you already have, and you could partner with an affiliator like Skyview (Networks). You could put this together without it being a heavy lift on your existing business, and get out there using the expertise in the marketplace. I’d say you could do it in three to four months.”
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.
