Cox Enterprises Extends Tender Offer
May 14, 2009 at 4:59 AM (PT)
COX ENTERPRISES, INC. announced TODAY (5/14) that it has extended the tender offer by its COX MEDIA GROUP, INC. subsidiary to acquire all the outstanding shares of Class A common stock of COX RADIO, INC. not otherwise held by COX MEDIA GROUP. The tender offer will now expire at 5p ET on FRIDAY, MAY 15th, 2009.
"Though we are extending the tender offer, COX ENTERPRISES has made it absolutely clear that its revised offer price of $4.80 per share is its best and final offer. COX ENTERPRISES will not increase its offer," said COX ENTERPRISES Pres./CEO JIMMY W. HAYES.