Home Login RADIO ONLINE RSS Facebook
Advertisement

Investor Class Action Suit Filed Against Cox Radio


A class action lawsuit has been filed on behalf of an investor in Cox Radio over alleged breaches by the board. According to the complaint, on March 23, Cox Enterprises announced that it would commence a cash tender offer for all of Cox Radio's outstanding shares for $3.80 each. The plaintiff alleges that Cox Enterprises seeks to acquire the remaining shares on "unfair terms and without regard to the best interests of Cox Radio's public shareholders."

The complaint alleges that tender offer leaves Cox Radio's stockholders with an unfair coercive tender offer, and without a fully-informed voluntary choice whether to sell Cox Radio or seek appraisal. The plaintiff alleges that the tender offer serves no legitimate business purpose of Cox Radio, but rather is an attempt to enable Cox Enterprises to benefit unfairly from the transaction.

The suit was filed in the U.S. District Court for the Northern District of Georgia.

Advertisement

Latest Radio Stories

iHM/Greensboro Names Zac Davis VP of Programming
Zac Davis
Zac Davis
iHeartMedia names Zac Davis as Vice President of Programming for its five-station cluster in Greensboro, effective immediately. He joins iHM from Entercom in Richmond, VA, where he most recently served as the Senior Vice President of Programming. More

Media Monitors Podcast Listener Survey Results Revealed
Media Monitors
Media Monitors
The Media Monitors Podcast Listener survey, fielded between June 15-26, has been released. Participants ages 18+ were screened on whether they had listened to a podcast in the last seven days, then asked to list the podcast titles. Participants were More

Entercom Inks Broadcast Extension with Cleveland Browns
Cleveland Browns
Cleveland Browns
Entercom and the Cleveland Browns ink a multi-year broadcast partnership extension. As part of the deal, WKRK-FM (92.3 The Fan) and sister WNCX-FM will continue serving as flagship radio stations of the team, airing all Browns games plus pre- and More
Advertisement

Public Radio Urban Alternatives Launch 2020 Voting Campaign
The Movement Continues
The Movement Continues
Four public radio stations are combining efforts to encourage their young and diverse audiences to register and vote in the 2020 election. The campaign, "The Movement Continues -- Vote 2020," is driven by four Urban Alternative stations including More

RAB Presents ''Election 2020 is Open for Business''
RAB Open for Business
RAB Open for Business
As part of RAB's Business Unusual campaign, RAB is announcing the next presentation in its live-video series titled "Election 2020 is Open for Business-What's Happening, What's to Come, What to Do." This live-video presentation features a panel More

KZMJ (Majic 94.5)/Dallas Adds Veda Loca's ''House Party''
Veda Loca
Veda Loca
Urban One's KZMJ-FM (Majic 94.5) Dallas brings veteran Dallas radio host Veda (Loca) Emery back on air in a new capacity. Veda Loca's "House Party" will debut this Friday and Saturday on Majic 94.5 from 6pm-12am and every Friday and Saturday More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement