Cox cancels sale of Austin American-Statesman
Posted by Simon Day on August 7, 2009 at 5:39 AM
Cox Enterprises has withdrawn a Texas newspaper, the Austin American-Statesman, from the market after bids on the newspaper did not reach prices the company had hoped for, The New York Times reported Thursday.
Last year, the privately held, Atlanta based company, announced plans to sell all its newspapers in the North Carolina, Texas and Colorado regions. In recent months Cox has signed deals to sell 18 of its newspapers in these areas, including the Waco Tribune-Herald and the Daily Sentinel in Grand Junction.
Last year, the privately held, Atlanta based company, announced plans to sell all its newspapers in the North Carolina, Texas and Colorado regions. In recent months Cox has signed deals to sell 18 of its newspapers in these areas, including the Waco Tribune-Herald and the Daily Sentinel in Grand Junction.
Cox had received interest from a number of parties in the purchase of the America-Statesmen, and reportedly sought a price of upwards of US$100 million, according to The Times. Cox declined to comment.
Although originally a newspaper company, Cox now generates most of its revenue from other media forms, including cable television franchises and broadcast stations.
Although originally a newspaper company, Cox now generates most of its revenue from other media forms, including cable television franchises and broadcast stations.
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