Cox Enterprises announced today that the entire portfolio of stations making up the television operation of the Cox Media Group, consisting of 14 stations in nine states, is up for sale.
The stations reportedly reach more than 31 million viewers, and include markets such as Atlanta, Pittsburgh, Seattle, Orlando and Boston. Click here for a full list of the stations.
TVNewsCheck cites an internal memo, apparently sent by Cox Media Group head Kim Guthrie, that says: “Our analysis shows that scale is critical to be successful. We firmly believe that our great stations — and talented people — will need to be part of a larger entity to thrive in the future.”
The memo adds: “Success will depend on our stations’ ability to drive digital growth and approach relationships with networks and distributors from a position of strength.”
In its official announcement, Cox says: “These stations have been established as leading news and information outlets and are cornerstones of the communities they serve. This in turn has driven strong financial performance, making the stations attractive assets in today’s marketplace.”
The announcement adds: “Cox Enterprises has no immediate plans for the other parts of the portfolio and will continue to operate our radio properties, The Atlanta Journal-Constitution, The Dayton Daily News and their affiliated publications and websites, as well as its other businesses Cox Reps, Gamut, Videa and Ideabar.”
Please click here to read the full announcement from Cox Enterprises, which includes the list of stations.