Cox Enterprises to Sell Waco Tribune-Herald to Robinson Media Company, LLC
ATLANTA, July 15 /PRNewswire/ — Cox Enterprises, Inc. announced today it has reached a definitive agreement to sell the Waco Tribune-Herald to Robinson Media Company, LLC. The transaction is expected to close in the upcoming weeks.
“The Waco Tribune-Herald and its employees have made significant contributions to our company,” said Doug Franklin, executive vice president, Cox Newspapers. “Under Robinson Media Company’s ownership, the Tribune-Herald will continue to excel in journalism and serving advertisers, as well as remain an integral part of the community.”
It is anticipated that virtually all employees will be retained under the new ownership. Belinda Gaudet, current publisher of the Tribune-Herald, will be retiring, and Dan Savage will serve as the interim publisher. The Tribune-Herald, a Pulitzer Prize finalist in 1994 for its investigative reporting, dates back to the 19th century.
“I’ve spent my life in Waco and recognize the importance of the Waco Tribune-Herald,” said Clifton Robinson, chairman and CEO of Robinson Media Company. “The paper is vital to this community, and I’m thrilled to be part of such an important organization. I look forward to meeting and working with the employees who make the paper the success it is today and will continue to be in the future.”
As announced in 2008, Cox Enterprises continues to market for sale its newspapers in Colorado, North Carolina and Texas. Cox recently sold The Lufkin Daily News and The Daily Sentinel (Nacogdoches, Texas) to Houston-based Southern Newspapers. Citigroup and Dirks, Van Essen & Murray have been retained to assist Cox Enterprises with the marketing of these assets.
About Cox Enterprises
Cox Enterprises is a leading communications, media and automotive services company. With revenues exceeding $15 billion and more than 77,000 employees, the company’s major operating subsidiaries include Cox Communications, Inc. (cable television distribution, telephone, high-speed Internet access, commercial telecommunications, advertising solutions and the Travel Channel); Manheim, Inc. (vehicle auctions, repair and certification services and web-based technology products); Cox Media Group, Inc. (television stations, digital media, newspapers, advertising sales rep firms and Cox Radio, Inc.); and AutoTrader.com (online automotive classifieds and related publications). Additionally, Cox’s Internet operations include Kudzu.com and Adify Corporation, a unit of Cox TMI, Inc.
About Robinson Media Company
Robinson Media Company is led by civic leader and businessman Clifton Robinson. He grew up in Waco and graduated from Baylor University. Robinson spent 50 years in the insurance business and recently sold National Lloyds Insurance Company, which he founded in 1964.
SOURCE Cox Enterprises, Inc.