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                                                                  Exhibit 99

[CBS Corporation Logo]
51 WEST 52 STREET   NEW YORK, NEW YORK 10019-6188


                                                                 June 5, 1998



                    CBS CORPORATION COMPLETES ACQUISITION OF
                    AMERICAN RADIO SYSTEMS FOR $2.6 BILLION



         NEW YORK, June 4, 1998 -- CBS Corporation (NYSE:CBS) announced today
that it has completed the acquisition of American Radio Systems' (NYSE:AFM)
radio broadcasting operations (ARS) for approximately $2.6 billion, including
the assumption of debt.

         ARS is one of the nation's largest radio broadcasting companies with
more than 90 radio stations located in 19 predominately top 50 markets,
including several major markets where CBS has existing radio and television
stations.

         Mel Karmazin, President and Chief Operating Officer, CBS Corporation,
commented: "We are pleased to have completed this significant acquisition which
further strengthens CBS's investment in the fast growing radio industry. The
ARS radio properties are a very attractive group of radio stations, which
enables CBS Radio to expand into new top 50 markets and increase its position
in its existing major markets. As a result of this acquisition, we expect the
CBS Radio Station Group, including the out-of-home media company, to represent
over 65% of the Company's future operating cash flow."

          Mr. Karmazin added that CBS expects to continue to make additional
investments in its radio and out-of-home businesses.

                                     * * *

Note: Certain statements in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievement of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Reference is made to the Company's Annual Report on
From 10-K for the 1997 fiscal year filed with the Securities and Exchange
Commission for additional information concerning such risks and uncertainties.

                                      

Contacts:         Jack Bergen        CBS Corporation         212/975-3835