They Threw Me Into Public: CBS Corp. COO Joseph Ianniello anticipates an initial IPO of less than 20% of the value of CBS Radio in Q1 2017, followed by a total split from CBS Corp. in Q3. The news came yesterday (8/16) during Nomura's 2016 Media, Telecom & Internet Conference. Citing "lessons learned from some other radio companies that are probably over-levered," Ianniello said CBS Corp. will leverage CBS Radio with a more manageable level of "high-yield" and "probably not" investment-grade debt. "We're unlocking value here," he said. "We've always been prudent and we've always done the right thing for shareholders." Ianniello demurred on a potential reunion with Viacom, but said it "would be the same as [for] any other corporation" if it was to occur. Listen here.