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Report: Cox to Explore Sale of its 61 U.S. Radio Outlets
RADIO ONLINE | Tuesday, March 19, 2019 |
A month after agreeing to sell a majority stake in its TV portfolio, Cox Enterprises is looking to make a deal for its radio stations, reports Atlanta Business Chronicle's David Allison. Sources within the company tell the newspaper that Atlanta-based company is "exploring options" for all of its Cox Radio outlets. Allison writes that employees have been informed and there's no timeline. Plus, any deal would not include the Atlanta Journal Constitution.
Cox has owned WSB AM 750, "the South's first radio station," since 1939, when company founder James M. Cox bought The Atlanta Journal. The station launched in 1922.
On February 15, Cox announced a deal with Apollo Global Management for a reported $3 billion to sell a majority interest in Cox Media Group's broadcast television stations. The deal also included the company's radio, newspaper and TV properties in Ohio.
Cox's radio station's includes 61 outlets in Atlanta and Athens GA, Miami, Orlando, Jacksonville, Tampa, Long Island Houston and San Antonio, Dayton and Tulsa.
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