Cox Enterprises explores strategic options for Cox Media Group's television stations
Cox Enterprises, Inc. announced today that it is exploring strategic options for its ownership or other interest in 14 broadcast television stations, including partnering or merging these stations into a larger TV company.
"We didn't take this decision lightly. It is clear that scale is critical for TV affiliates to be positioned well for the future. Our stations are some of the best in the industry and we want them to stay that way," said Alex Taylor, president and chief executive officer of Cox Enterprises.
The 14 stations in nine states are part of Cox Media Group, Cox Enterprises' integrated broadcasting, publishing and digital media company, and reach more than 31 million viewers in their markets. These stations have been established as leading news and information outlets and are cornerstones of the communities they serve. This in turn has driven strong financial performance, making the stations attractive assets in today's marketplace.
Cox Enterprises has no immediate plans for the other parts of the portfolio and will continue to operate its radio properties, The Atlanta Journal-Constitution, The Dayton Daily News and affiliated publications and websites, as well as its other businesses Cox Reps, Gamut, Videa and Ideabar.
The company is investing in strategic priorities to foster growth within its existing businesses. In addition, Cox Enterprises is investing in new growth areas, including Cleantech and healthcare.
"Cox's television stations are and will always be an important part of our company's history, and we greatly value the contributions of these stations to the success of our company and to the communities where we do business," said Jim Kennedy, chairman of Cox Enterprises. "We are deeply appreciative of the employees at these stations and their dedication to delivering quality, consistent and trustworthy journalism."
The 14 stations are:
- WJAX, CBS - Jacksonville, FL*
- WFOX-TV, FOX - Jacksonville, FL
- WFTV-TV, ABC - Orlando, FL
- WRDQ-TV, Independent - Orlando, FL
- WSB-TV, ABC - Atlanta, GA
- WFXT-TV, FOX - Boston, MA
- WSOC-TV, ABC- Charlotte, NC
- WAXN-TV, Independent - Charlotte, NC
- WHIO-TV, CBS - Dayton, OH
- KOKI-TV, FOX - Tulsa, OK
- KMYT-TV, My Network - Tulsa OK
- WPXI-TV, NBC - Pittsburgh, PA
- WHBQ-TV, FOX - Memphis, TN
- KIRO-TV, CBS - Seattle, WA
*CMG provides programming, sales and other operations services for WJAX.