On Thursday, Cox Media Group was one of three companies (the other two being Nexstar and Sinclair) to buy a group of Newport Television's stations. Today, the company announced that it's selling several of its existing stations, both of the TV and radio variety.
Among the stations the company plans to sell are its four FMs in the Louisville market, all of which are rated in the city's top 10:
- WQNU-103.1 FM, "New Country 103.1," Lyndon, Ky. (#4)
- WVEZ-106.9 FM, "Lite 106.9," St. Matthews, Ky. (#5)
- WSFR-107.7 FM, "107.7 The Eagle," Corydon, Ind. (#7)
- WRKA-103.9 FM, "Country Legends 103.9," Louisville, Ky. (#8)
The company will also sell off additional radio properties in Birmingham, Ala.; Greenville, S.C.; Hawaii; Richmond, Va.; and Southern Connecticut, as well as TV stations in four markets: El Paso, Texas; Johnstown, Pa.; Reno, Nev.; and Steubenville, Ohio.
Cox's moves are intended to increase the company's ability to make a bigger impact in the markets where it will remain, and to enhance the bottom line as well. “This simplified structure will enable (the company) to capitalize on continued growth and synergies, while retaining its size financially,” Cox Media president Doug Franklin said in a statement.
“All of our media outlets, regardless of size, are valuable, profitable brands with strong futures thanks to the hard work and dedication of our talented professionals who serve their audiences, advertisers and communities,” Franklin added. “We thank the leaders and employees in the locations we’re selling for their outstanding contributions to this company over the years and the valuable service they will continue to provide their respective communities.”
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