Neil | Principles & Practices

by [Isabel Herrera]

6205 Peachtree | Dunwoody Road | Atlanta, GA 30328| Phone: 678-645-0000| Website: www.coxmediagroup.com

Major Market Competitors:

▪ Clear Channel Communications, Inc

▪ Cumulus Media, Inc

▪ CBS Radio, Inc

History:

Cox Radio, Inc is a radio company based in Atlanta, Georgia. Founded in 1934 by James M. Cox, Cox Radio, Inc continues to deliver quality radio content, reaching 18 million radio listeners across the country. Cox Radio prides itself in establishing the first FM station in the south during 1964. [1]

Company Overview:

They operate as a division of Cox Media Group, Inc, a subsidiary of conglomerate Cox Enterprises. In 1996, Cox Radio became a publicly traded company. However in 2009, Cox Radio, Inc made the transition from a public company to a private corporation. [2] Over the years, Cox Media Group has expanded its television, newspaper and broadcasting services; however, radio remains a relevant component to the company’s overall successful $1.8 billion revenue. Cox Radio, Inc along with Cox Enterprises is considered to be one of the few successful family-own businesses currently functioning in the entertainment market. [3]

Cox Radio is 62 percent-owned by Cox Enterprises, Inc, and is responsible for a total of 86 radio stations (15 AM radio stations, 71 FM radio stations) in locations such as Atlanta, Stamford/ Norwalk, New Haven, Bridgeport Connecticut; Dayton, Ohio, Greenville, South Carolina; Honolulu, Hawaii; San Antonio and Houston Texas; Tampa, Orlando, Miami, and Jacksonville, Florida; Long Island, New York, Louisville, Kentucky, Richmond, Virginia; and Tulsa, Oklahoma. [4]

In Cox Radio Syndication, the company is able to produce and distribute expansive radio programming to approximately 200 affiliate stations through a partnership with Jones Radio Network. [5]

In 2009, Cox Media Group, Inc announced a new model that “reorganized its media businesses by maximizing the expertise and talents of its media across its portfolio or radio, television and newspaper businesses.” Adapting this progressive agenda enabled for the radio division to bring together advertising services and their firms in a costly-efficient manner. [6]

Notable Key Executives:

Courtesy of Google Images

James C. Kennedy is the grandson of the legendary founder is currently the Chairman of the conglomerate Cox Enterprises, Inc. Prior to his position as Chairman, he was CEO from 1988 to 2008. James Kennedy also serves as Chairman of the Board for Cox Radio. [9]

Courtesy of Cox Media Group

Robert Neil as Executive Vice President of Cox Media Group supervises several radio, television, newspaper, and digital research operations within the company. He joined Cox in 1986 as Station Manager of WSB- AM/FM and by 1988 was named VP and General Manager WWRM-FM. Eight years later, he was named President and Chief Executive Officer of radio when Cox Radio became a public company (1996). [7]

Courtesy of Cox Media Group

Charles L Odom serves as Chief Financial Officer & Principal Accounting Officer has served Cox Radio since January 2009. Charles joined Cox Radio in 1996 as Manager of Financial Reporting, and served as Director of Financial Reporting and Analysis from 2001- 2008. [8]

Courtesy of Cox Media Group

Neil Johnston currently serves as the Executive Vice President, Strategy and Digital Innovation. He oversees Strategic Development, and the digital expansion of Cox Media Group. Neil was also Cox Radio’s Chief Financial Officer for the past nine years, and he has currently stepped down from the position. [9] [10]

Finances/Market Revenue:

After announcing their transition from public to private in 2009, it was reported that Cox’s revenues increased from $1.8 billion to $15 billion. Nonetheless, in 2011, Cox’s annual earned profits was $14.6 billion, falling -0.7 percent short from the previous $15 billion revenue. [11]

Specifically, over the past year Cox Radio’s revenue has increased 1% compared to radio’s overall revenue, which fell by 2%. Similar to other radio companies, Cox Radio, Inc is currently threatened by the ipod effect and the general struggle to maintain profitable radio advertising results in the market. [12] [13]

Popular Radio Shows:

Alan Cox Show Flyer. Courtesy of www.wmms.com

Kono 101.1 flyer. Courtesy of www Kono 1011.com

News:

Cox Radio reportedly experienced a $404 million loss due to weak advertising revenue. This equates to a $4.08 per share relative to the net income of $1.8 million and earnings back in 2007. Particularly, the general economy and the advertising market contributed to the 7.2 percent decrease in local revenue, while national revenue decreased at an astonishing 11.7 percent. [14]

October

Interestedly enough, Cox Radio, Inc acquired Valpak of Jacksonville in order to best cross-promote their radio services along with advertising incentives to radio listeners. Valpak mails over 20 billion coupons and targets about 100 markets in 48 states and four Canadian areas. They also integrate digital advertising into their promotions through Smartphone apps, QR codes, and phone messaging interaction. This opportunity will provide a unique outlet for local Cox Radio stations to market their shows and upcoming events. [15]

Cox Radio is set to expand their radio news service throughout their Atlanta-based locations. The news stations will provide regional weather coverage, sports information, and regional weather coverage that w. They decided on this news alternative after seeing an opening where Clear Channel declared closure for their Georgia News Network by the end of this year. [16]

November

Once again, Cox Radio stations experienced budget cut expenses. Cox Radio has released two of the most charming radio personalities: the amiable Steve O. Sellers and the laid-back Katrina Curtis. The cuts were not done on personal ends, but simply because it was a “business decision.” Loyal radio listeners were a bit gloomy, considering there no indication of a goodbye announced through the radio on behalf of the Disc jockeys themselves. An interesting comparison was made recalling how in the 70s and 80s Disc Jockeys dominated stations, and the ratings correlated with the sales of ads, respectively. Nowadays, large companies are far more concern with cutting costs even if it means getting rid of the most important element in radio shows: the talent. [17]

Cox Radio supports The Internet Fairness Act , which will help end the discrimination against online radio. Their decision to stand in favor of this act demonstrates the acceptable shift between traditional radio and modern radio alternatives. This is certainly a pivotal step towards the merging direction our radio culture is intended to encounter. [18] [19]

References:

[1] http://www.fundinguniverse.com/company-histories/cox-enterprises-inc-history/ (Cox Enterprises, Inc. History)

[2] http://www.adweek.com/news/television/cox-radio-goes-private-112341 (Cox Radio goes Private)

[3]http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=350722

[4] http://streamingradioguide.com/radio-parent-list.php?parentid=6 (List of 86 radio stations)

[5]http://www.hoovers.com/companyinformation/cs/competition.Cox_Radio_Inc.1f936d45ef30fa21.html (Affiliate Partnerships of Cox Radio, Inc)

[6] http://www.coxmediagroup.com/news/cmg-press-releases/cox-media-group-announces-new-integrated-media-org/nCq/ (Cox Media Group Announces New Integrated Media Organization)

[7] http://www.coxmediagroup.com/about/ourleadership/bob_neil/

[8] http://www.coxmediagroup.com/about/ourleadership/bob_neil/ (Bob Neil)

[9] http://people.equilar.com/bio/charles-odom-cox-radio/salary/348497#.UMHqJY48gbU (Charles L Odom)

[10] http://www.forbes.com/profile/jim-kennedy/ (Jim Kennedy)

[11]http://www.coxmediagroup.com/about/ourleadership/neil_johnston/ (Neil Johnston)