Atlanta-based Cox Media Group is buying three television stations and will operate a fourth as part of the company's strategy to focus on larger markets and increase cross-media collaboration.
The TV stations are WAWS-TV (Fox) and WTEV-TV (CBS) in Jacksonville; and KOKI-TV (Fox) and KMYT-TV (MyNetwork) in Tulsa, Okla. In Jacksonville, CMG will purchase WAWS and an independent company will purchase WTEV, which Cox will operate. In Tulsa, Cox will own and operate both stations.
CMG is buying the TV stations from Kansas City-based Newport Television and High Plains Broadcasting in Sublette, Kan..
The company expects the deal to close near the end of the year.
Separately, CMG is selling radio and TV stations in 10 of its smaller markets. The move will decrease the number of local markets in which CMG operates from 26 to 16. However, CMG will remain the same size financially, the company said.
CMG will be selling radio stations in Birmingham; Greenville, S.C.; Hawaii; Louisville, Ky.; Richmond; and southern Connecticut. The TV stations for sale are in El Paso, Texas; Johnstown, Pa.; Reno, Nev.; and Steubenville, Ohio.
"This simplified structure will enable CMG to capitalize on continued growth and synergies, while retaining its size financially," CMG President Doug Franklin said. "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."
In addition, CMG has named Ben Reed as vice president and manager for its Atlanta market. Reed, an industry veteran, replaces Dan Kearney, who is the new vice president and manager for CMG's Miami market.
CMG operates 15 broadcast TV stations and one local cable channel. The company also owns 86 radio stations and eight daily newspapers, including The Atlanta Journal-Constitution.
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