Cox Reorganizes Into 'Cox Media'
Bob Neil remains radio president; Charles Odom is slated to be CFO.
Cox Enterprises is placing its radio, TV and newspaper divisions together under one umbrella organization called Cox Media Group. The change will be effective in January.
The division will contain 86 radio stations, 17 daily and 26 nondaily newspaper publications, including the Cox hometown Atlanta Journal-Constitution, as well as 15 TV stations and digital media services.
The three media units will operate separately, the company said, but placing them under one organization "creates efficiencies that allow us to strengthen Cox for the future," Cox Enterprises President/COO Jimmy Hayes stated.
Bob Neil will remain Cox Radio president and chief executive officer. Cox Radio will remain a publicly traded company. Of the 86 Cox radio stations, 71 are FM and 15 are AM, clustered in 19 markets.
Cox employee Sandy Schwartz will be the president of the new Cox Media Group. Schwartz is also the president of Cox Auto Trader.
The reorganization allows the company to bring together "our wide array of digital resources that ultimately will lead to enhanced online and mobile experiences for all our audiences," Schwartz said.
Cox Radio said that Charles Odom is expected to become chief financial officer, effective Jan. 1, 2009, pending board approval. Odom also will serve as Cox Radio's principal accounting officer.
Odom succeeds Neil Johnston, who will become chief financial officer of the new Cox Media Group.
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