Cox Media Group has reorganized its media businesses, including radio, TV and newspaper units, and combined them into one operation. It said it did so in response to changing consumer and advertiser preferences.
While Cox’s local media properties and brands will still operate independently — including, the company says, continuing independent news and editorial functions — it believes the new model provides opportunities for sharing knowledge, developing talent and saving money.
It also said each of its media properties will benefit from expanded sharing of services such as research, sales, digital, finance, human resources and engineering.
Though no job losses are expected “at this time” as a result of the reorgnization, the company said the new business model will continue to “evolve” over the next several months.
With this announcement, Doug Franklin, a veteran newspaper executive, and Bob Neil, president of Cox Radio, have been named to new roles of executive vice president, Cox Media Group, reporting to Sandy Schwartz, president of Cox Media Group. Franklin and Neil will oversee Cox’s broadcasting and newspaper properties.