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Cox Enterprises Looks to Acquire Remaining Public Stake in Cox Radio

Published Monday, March 23, 2009

Atlanta - Mar 23, 2009 - Cox Enterprises Inc. is commencing a cash tender offer for all of the outstanding publicly held minority interest in Cox Radio Inc. for $3.80 per share in cash, or a total payment of approximately $69.1 million, including fees and expenses. The proposal represents a 15.2 percent premium over Friday's closing price and a 21.8 percent premium over the ten-day volume weighted average closing price. Cox Enterprises currently owns approximately a 78 percent equity interest in Cox Radio and has approximately a 97 percent voting interest. If upon expiration ...

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