Done Deal: Cox Finds Its Buyers.
The radio industry has its answer to the question of who is buying the six markets being spun-off by Cox Media Group. Connoisseur Media is buying the southern Connecticut stations, with the remaining five markets going to Summit Media – the group led by former Heftel Broadcasting executive Carl Parmer and 16-year Cox Birmingham market manager David DuBose. They’ll take the clusters in Birmingham; Greenville, S.C.; Honolulu; Louisville; and Richmond. The company announced last July it would sell 26 stations to focus on larger markets and cities where it also owns television and newspaper assets.
“These are all important brands powered by talented media professionals who tirelessly serve their audiences, advertisers and communities,” CMG president Doug Franklin says. “We wish all of the employees well and know they will continue to work hard to produce quality entertainment, news and information for their customers and new owners.”
Since the planned sale was announced nearly seven months ago, the six markets have been cordoned off from the rest of the company into what’s known as the “Eagle Stations.”
No price tag on the sale was immediately available.