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[ Local | National ]
By Newsradio 88 Staff
The venerable Westinghouse Electric Corporation, founded 111-years ago, went out of existence this past midnight. The owner of this radio station is now the CBS Corporation.
Westinghouse is selling off it's power generating business and will become a pure play media company. As of today, the company's stock symbol on the New York Exchange switches from WX to CBS.
CBS Chairman Michael Jordan will ring this morning's opening bell at the New York Stock Exchange and Bill Cosby, who's show airs on CBS will buy the first 15-hundred shares of CBS stock. Corporate headquarters for the new company will move from Pittsburgh to Manhattan.