ADVERTISING: Cut-Rate Radio

Columbia Broadcasting System has earned a reputation for beating its competitors to the punch in snagging top talent. Last week CBS was first on another score. Beginning July 1, CBS will cut its radio advertising rates by 10% to 15% for time sold after 1 p.m. Affecting 195 stations across the nation, it was the first rate cut in radio network history. The reason, CBS President Frank Stanton explained, was that television has cut CBS's evening radio audience by 10% since last year, and advertisers have been on "a buyer's strike" against...

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