Cox Radio to Acquire WBGB-FM Serving Jacksonville, Florida
Posted on: Thursday, 6 July 2006, 09:01 CDT
ATLANTA, July 6 /PRNewswire-FirstCall/ -- Cox Radio announced today that it has entered into a definitive agreement to acquire WBGB-FM serving the Jacksonville, Florida market from Salem Communications for approximately $7.7 million in cash. Pending regulatory approvals, the company expects the transaction to close in the second half of 2006.
Robert F. Neil, President and Chief Executive Officer commented, "We're excited about expanding our presence in Jacksonville. The addition of WBGB-FM represents a unique opportunity for us to fill out a cluster in a key market."
At the close of this transaction, Cox Radio will own and operate six stations in the Jacksonville, Florida market, including WAPE-FM, WFYV-FM, WJGL-FM, WMXQ-FM, WBGB-FM and WOKV-AM.
About Cox Radio
Cox Radio is one of the largest radio broadcasting companies in the United States, based on revenues. Upon the consummation of all announced transactions, Cox Radio will own, operate or provide sales and marketing services for 80 stations (67 FM and 13 AM) clustered in 18 markets, including major markets such as Atlanta, Houston, Miami, Orlando, San Antonio and Tampa. Cox Radio shares are traded on the New York Stock Exchange under the symbol: CXR.
Cox Radio
CONTACT: Analysts and Investors - Neil Johnston, Vice President & ChiefFinancial Officer of Cox Radio, Inc., +1-678-645-4310; or Analysts, Investors,Press or Media - Jonathan Lesko of Brainerd Communicators, Inc.,+1-212-986-6667, lesko@braincomm.com, for Cox Radio
Source: PRNewswire-FirstCall
Related Articles
- HD Digital Radio Alliance Dramatically Expands Marketing Campaign for 2008 Gift-Giving Season
- Clear Channel Radio Creates Marketing Solutions Unit
- Media Advisory - Metals and Mining is Booming, but the Best for Miners is Yet to Come, Says Don Coxe, BMO Capital Markets
- CSR Brings Internet Radio to the Mass Market With Sub $15 BOM
- Clear Channel Radio Adds HD Digital Multicasts to 15 More Markets; Brings Total to 81 Markets and 320 Stations
- Volunteer Radio Eyes Open-Air Market
- CBS Corporation to Explore Divestiture of Radio Stations in Ten of Its Smaller Markets
- Pacific Radio Station Pulled From Market Due to Disappointing Offers
- B101 Radio President Jerry Lee Becomes Station's Sole Owner; Deal Ensures B101's Position As Only Privately-Held Radio Station in Major Market
- Sun Continues to Fuel New RFID Market With Java System RFID Software
 |
 |
User Comments (0)
RSS Feeds