Atlanta-based Cox Media Group will sell its six Honolulu radio stations to SummitMedia for an undisclosed price as part of two deals for more than two dozen radio stations in six U.S. markets.
The stations, licensed to CMG unit Cox Radio Inc., have been on the block since the July announcement that CMG intended to realign its broadcast holdings.
Birmingham, Ala.-based SummitMedia is led by David DuBose, currently Cox’s market manager in that area. Eight Birmingham stations also are part of the purchase, as are two stations in Greenville, S.C.; four stations in Louisville, Ky.; and four stations in Richmond, Va.
The other deal, for stations in southern Connecticut, is between Cox and Connecticut-based Connoisseur Media.
"This is the dream scenario for our Hawaii stations," said Patti Milburn, Cox Radio Hawaii vice president and general manager.
"To be purchased by a company comprised of former Cox Media group managers ensures that operations will not be interrupted during the transition and, most importantly, staff will remain in place. It also ushers in a new level of local decision making," she said.
Cox Radio Hawaii has 51 employees, "and we are still hiring," Milburn said.
Formats of the stations will remain unchanged for the foreseeable future.
Cox entered the Hawaii radio market in 1999 with the $16 million purchase of KRTR-FM 96.3, KXME-FM 104.3 and KGMZ-FM 107.9/AM 1460. Cox announced a $17.8 million deal to buy KCCN-AM-FM 100.3/AM 1420 and KINE-FM 105.1 in January 2000 and, due to regulatory restrictions, simultaneously announced the sale of KGMZ-FM to another company. Some of the stations’ call letters have since changed.
