• June 10, 2008

AOL is revamping its online radio service, adding streams from all 140 CBS Corp.-owned radio stations, according to The Associated Press.

The Web giant is also upgrading its player to add more functions and expand the service's reach. Lisa Namerow, the general manager of AOL's online radio unit, told the AP that the company's music streaming business was still unprofitable, even though recent figures from Arbitron Inc. show AOL has the largest average weekly online audience.

Teaming up with CBS' radio business, the second-largest player in radio after Clear Channel Communications Inc., will bring a number of highly rated news, talk and sports channels to AOL's online radio service, replacing a previous arrangement AOL had with XM Satellite Radio Holdings Inc.

--Tanya Irwin