Cox Enterprises 2009 Revenue Slips
April 21, 2010 at 4:31 AM (PT)
COX ENTERPRISES consolidated 2009 revenue fell from $15.2 to $14.7 billion year-to-year, the company announced in its 2009 annual report.
The privately-held company's radio stations are in the COX MEDIA GROUP division, which turned in revenues of $1.8 billion for the year; specific numbers for the radio group were not released, other than to note, "Revenue performance was better than that of the market, supported by consistently strong ratings performance."
In the report, Chairman JIM KENNEDY and Pres./CEO JIMMY HAYES write, "Revenues alone do not present the full picture of COX's financial health. Our cash flow is strong -- in fact, stronger than ever -- and that financial measure is the most important to our long-term goals. By maximizing our cash flow, we are best positioned to reinvest in our businesses with the longest-term growth potential and also acquire cash-generating businesses that align with our values."