CBS TV Station Group Chief Klein to Retire

CBS Corp. television station group President Jonathan Klein plans to retire after 30 years with the broadcasting company, according to an internal memo sent by Klein to company managers. The 56-year-old Klein, who wasn’t immediately available to comment, said in the memo that he would remain with the company during a transition period. He didn’t indicate what he would do after leaving CBS. Klein was named head of the station group in 1995, after CBS was bought by Westinghouse Electric Corp., which later changed its name to CBS and made radio industry veteran Mel Karmazin its chief executive. Since Klein took over, CBS’ 16 stations have increased their audience ratings and advertising revenue. CBS declined to comment on Klein or who would replace him. Shares of New York-based CBS rose 44 cents to close at $44 on the NYSE.