Cox puts up "For Sale" sign

[Moderator1]

Pipeline info:

Cox is selling Austin (and its community papers), Waco, Longview, Marshall, Nacogdoches, and Lufkin in Texas.

Also, North Carolina community newspapers and Grand Junction, Colo.



This leaves, I guess, Atlanta, Dayton and Palm Beach?

 

[calibretto]

http://www.news-journal.com/hp/content/news/stories/2008/08/13/08142008_cox_sells.html

 

[Orange Hat Bobcat]

Atlanta, Dayton, Palm Beach and three or four community newspapers in Florida are the only newspapers not on the block.

 

[deskslave]

Approximately 80 percent of Cox Enterprises' revenues now come from sources other than its traditional advertising-supported media companies (newspapers, television and radio). Moving forward, Cox will continue to strengthen its portfolio of businesses by making significant capital investment to develop next-generation wireless and mobility services for Cox Communications, Inc. and investments in technology, global expansion and innovative products at Manheim, which is transforming the wholesale vehicle buying and selling experience.

Jesus. Just print the entire company mission statement while you're at it.

 

[Mystery_Meat]

North Carolina dailies, meet Paxton
Paxton, North Carolina dailies.
And North Carolina daily employees, meet your DOOM

 

[Football_Bat]

It'll be interesting who Austin and Waco end up with. Hate to say it, but those other Texas papers have CNHI written all over them.

 

[Appgrad05]

Holy ****.

I got my start at a Cox paper. I know everyone still there and I can't not feel for each and every one of them.

 

[markvid]

How many TV stations do they own?

 

[deskslave]

North Carolina dailies, meet Paxson
Paxson, North Carolina dailies.
And North Carolina daily employees, meet your DOOM

Paxton.

 

[slappy4428]

It'll be interesting who Austin and Waco end up with. Hate to say it, but those other Texas papers have CNHI written all over them.

You think Austin is a little more than CNHI can chew? Hell, the pension fund that owns CHNI has offered to spend $2 billion to buy the Jefferson County Alabama sewer system... don't think they could do both...

 

[dargan]

Cox "intends" to sell Nac, Lufkin, Longview, Marshall, and Waco as a package. Also, Austin and its communities as a package.

 

[dixiehack]

That's OK, Texas isn't much of a growth market anyway. :

 

[ondeadline]

The N.C. papers include the Greenville Daily Reflector, the Rocky Mount Telegram and the Elizabeth City Daily Advance.

Not a good day for N.C. papers.

 

[Mystery_Meat]

North Carolina dailies, meet Paxson
Paxson, North Carolina dailies.
And North Carolina daily employees, meet your DOOM

Paxton.

No, no, John Paxson's getting into the newspaper game. He's going to send Kirk Hinrich down to Elizabeth City and call up a copy editor.

... dammit.

 

[Appgrad05]

The N.C. papers include the Greenville Daily Reflector, the Rocky Mount Telegram and the Elizabeth City Daily Advance.

Not a good day for N.C. papers.

Not at all.
Greenville is the source for East Carolina football, and does a great job with a high schools area that is full of state champion-level teams.
Rocky Mount is all over the ACC and for a paper its size does an admirable job. Their high schools coverage is nothing short of outstanding, breaking the molds of how things are "done" in eastern North Carolina. It picked up its first APSE this year, a honorable mention for Sunday sections.
Elizabeth City has an impossible deadline and a two-man staff, yet whenever I talked with them, they were doing what they could with they had.

These are good people. They haven't lost their jobs (yet), but I would hope most are now papering the world with their resumes.

 

[Sam Mills 51]

I worked at a Cox paper for a while, and still know most of those guys. Best of everything to them ... and I can only hope Paxton and CNHI leaves them be.

 

[Inky_Wretch]

Wouldn't be shocked if Wehco started sniffing around some of those papers. Word is the owner has been looking to expand.

 

[mustangj17]

why would any company be dumb enough to buy a newspaper right now?

 

[Michael_ Gee]

Austin is the type of community where SOME kind of daily information presentation will make money eventually. Buying the newspaper brand name could be worth it. That's a prosperous place.

 

[JayFarrar]

Wouldn't be shocked if Wehco started sniffing around some of those papers. Word is the owner has been looking to expand.

More than a word.
Austin fits the profile perfectly for what they are looking for: Daily paper in a state capitol.
They just paid cash for the Jeff City paper in Mizzou and I wouldn't be surprised at all to see Wehco make that buy in Texas.