By: E&P Staff
Cox Newspapers soon will be no more.
In a sweeping reorganization announced Wednesday by Atlanta-based Cox Enterprises, Cox Newspapers beginning in January will join two other media business units, Cox Radio and Cox Television, in a new subsidiary to be known as Cox Media Group Inc.
Cox Media will be headquartered in Atlanta with Cox veteran Sandy Schwartz as its president.
“Bringing together our media operations under one organization creates efficiencies that allow us to strengthen Cox for the future,” Cox Enterprises President and CEO Jimmy Hayes said in the announcement. “Working together, our businesses will grow to become more cost effective, learn more from each other and continue their leadership position in serving our markets.”
Cox Media Group will include 17 dailies and 26 non-daily newspapers; 15 television broadcast stations; 86 radio stations; more than a hundred digital services associated with these businesses, and the direct mail advertising company Valpak.
Cox has put up for sale Valpak, as well as newspapers in Texas, North Carolina and Colorado. The reorganization does not affect those planned sales, Cox said.
Cox Media will ?benefit from more comprehensive and efficient corporate resources while retaining separate operations,? Cox said.
All of Cox’s media properties will continue to be managed and run by local employees, Cox said.
And Cox Radio will continue to trade publicly on the New York Stock Exchange under the symbol CXR.