Cox Realigns Its Broadcast Portfolio
Cox Media Group is realigning its broadcast portfolio to focus on larger markets as well as cross-media collaboration between its radio, television and print properties.
The purchase of four TV stations triggered the change. Cox expects the TV station purchases to close in the fourth quarter, but is now making plans to sell several radio stations as part of its realignment. Currently, Cox owns 86 radio stations and 15 TV stations.
The company is selling its radio properties in the following markets:Birmingham, Ala.; Greenville, S.C.; Hawaii; Louisville, Ky.; Richmond, Va. and Southern Connecticut. The broadcaster is also selling TV properties in El Paso, Texas; Johnstown, Pa.; Reno, Nev. and Steubenville, Ohio.
CMG President Doug Franklin said the simplified structure would enable the broadcast group to retain its size financially, while allowing the company to focus on growth and synergies among its radio, TV and newspaper properties.
The company has made several management changes as part of the realignment. The two largest changes are former Group VP Kim Guthrie is CMG’s new senior vice president responsible for radio markets, and former Austin American-Statesman Publisher Jane Williams is the company’s new senior vice president responsible for TV markets, both reporting to Bill Hoffman, executive vice president over broadcast.
Cox Media properties for sale include:
•Birmingham (WAGG-AM, WBHJ-FM, WBHK-FM, WENN-AM, WZZK-FM, WZNN-FM, WBPT-FM, and CMG’s contract rights for WALJ-FM)
•Greenville (WJMZ-FM/HD3, WHZT-FM)
•Hawaii (KRTR-AM/FM, KPHW-FM, KCCN-FM, KINE-FM, KKNE-AM)
•Louisville (WRKA-FM, WVEZ-FM, WSFR-FM, WQNU-FM)
•Richmond (WHTI-FM, WKHK-FM, WKLR-FM, WURV-FM)
•Southern Connecticut (WPLR-FM, WEZN-FM, WFOX-FM, and CMG’s contract rights for WYBC-FM)
•El Paso (KFOX-TV) (Fox affiliate)
•Johnstown (WJAC-TV) (NBC affiliate)
•Reno (KRXI-TV and CMG’s option and other contract rights for KAME-TV) (Fox affiliate)
•Steubenville (WTOV-TV) (NBC affiliate)