CBSCorp. is considering spinning off its CBS Radio business via anIPO, billboard.com reported March 31, citing an internal memo.

CBS Radio President Andre Fernandez reportedly said in the memothat the move would reportedly allow CBS Radio to be a publicly traded company.Fernandez added that CBS is exploring other options, including the possibilityof the radio business becoming part of another company.

The news comes after CBS Chairman and CEO Les Moonvesannounced plans to explore a sale or spinoff of its radio division.