ATLANTA—Cox Enterprises announced it is exploring what to do with its 14 TV stations going forward, including options such as merging the stations into a larger TV group or partnering with a bigger TV company.
"We didn't take this decision lightly. It is clear that scale is critical for TV affiliates to be positioned well for the future,” said Alex Taylor, President and CEO of Cox Enterprises.
The stations, part of the Cox Media Group, include WSB-TV in Atlanta; WSOC-TV and WAXN-TV in Charlotte, N.C.; WHIO-TV in Dayton, Ohio; WFOX-TV in Jacksonville, Fla.; KOKI-TV and KMYT-TV in Tulsa, Okla.; WFTV-TV and WRDQ-TV in Orlando, Fla.; WPXI-TV in Pittsburgh; KIRO-TV in Seattle; WFXT-TV in Boston; and WHBQ-TV in Memphis, Tenn. Cox Media Group also provides operations and sales services to WJAX in Jacksonville, Fla. Together the stations reach more than 31 million viewers.
According to Cox Enterprises, the stations are leading sources of news and information in their markets, which drives strong financial performance and makes them attractive to possible suitors.
[Read: Sinclair Picks Up Four Cox Stations For $94.7 Million]
The company has no immediate plans involving other parts of its portfolio and will continue to operate its radio stations.
Cox Enterprises said it will invest in its other business and is staking out positions in new growth areas, such as cleantech and healthcare.
