Multiple financial analysts have weighed in on last week's announcement of the new CBS Sports Radio network syndicated by Cumulus. Trefis estimates that CBS' radio and TV stations "constitute more than 20 percent of CBS’ estimated value. About half of the revenues within this division can be attributed to CBS’ radio business, which currently captures close to eight percent share of the U.S. radio market. This implies that the radio business accounts for somewhere around 10 percent of CBS’ value. If this new expansion increases CBS’ radio revenues by 20 percent, it could result in an upside of less than five percent. Even though an interesting move, the direct value add is not that significant."

Trefis adds that the expansion of its Sports brand on radio will strengthen CBS' position in the Sports radio market. Its stock price estimate for CBS stands at about $34.75, implying a premium of about 10 percent to the market price.

Meanwhile, Pivotal Research Group Senior Research Analyst Brian Wieser also approves of the CBS-Cumulus announcement. Wieser believes the new CBS Sports network "illustrates growth initiative potentially enabling CBS radio to grow faster than their forecasts, otherwise assumed as generally flat in years ahead." He adds that Pivotal sees potential for incremental revenue growth from CBS, but will wait before the group changes its estimates.