Cox Radio Forms Committee To Go Private
April 1, 2009 at 2:32 PM (PT)
COX RADIO's board of directors has formed a special committee to consider the tender offer by COX MEDIA GROUP, on MARCH 23rd, 2009 for all of the outstanding shares of our Class A common stock not otherwise owned by COX MEDIA GROUP (NET NEWS, 3/23) at $3.80 per share.
The special committee consists of JUANITA P. BARANCO and NICK W. EVANS, JR. Our board of directors has determined that each member of the special committee is an independent director for purposes of considering the tender offer. The members of the special committee have been functioning in their capacity as the special committee since MARCH 23rd, 2009. The special committee expects to file and distribute a Schedule 14D-9 containing its position with respect to the tender offer by APRIL 3rd, 2009 and advises stockholders to take no action at this time until the special committee has had a chance to consider the tender offer.