Media Corporations in the Global Marketplace
Cox Enterprises, Inc. (CEI) is an Atlanta-based media conglomerate that has ties into nearly all media forms today. Since the founding of Cox Enterprises by James M. Cox in 1898, CEI has been established as a media staple through newspapers, radio, television, cable, telephone, and Internet communications . As of 2000, Cox Enterprises was ranked seventh in AdAge’s “100 Leading Media Companies” . Cox Enterprises is listed on the New York Stock Exchange and is currently being led by Chairman and Chief Executive Officer James C. Kennedy, the grandson of James M. Cox.
Cox Enterprises ,Inc. is the parent company for Cox Communications, Inc., Cox Interactive Media, Inc., Cox Newspapers, Inc., Cox Radio, Inc., Cox Television, and Manheim Auctions, Inc . Since James Kennedy became the CEO for Cox Enterprises in 1988, revenues have increased from $1.8 billion to more than $7.8 billion in 2000 . The public trading of both Cox Communications and Cox Radio since the company takeover by Kennedy has resulted in a respectable market capitalization of $27 billion and $2.4 billion.
The establishment of Cox Enterprises began in 1898 when James M. Cox purchased the Dayton Evening News in Ohio . Prior to the success of Cox’s media career, he ran and lost against Warren G. Harding in the 1920 Presidential election. Upon losing the election, Cox decided to return to Ohio and focus on his media business. In 1934, he established the broadcasting center WHIO in Dayton. Five years later, Cox entered the Atlanta market through the purchase of The Atlanta Journal, which included the acquiring of WSB-Radio. The purchases within the Atlanta market led to the launch of the South’s first television station, WSB-TV, and the first FM band radio station, WSB-FM.
James M. Cox passed away in 1957 only to be succeeded by his son, James M. Cox, Jr. Cox, Jr. entered the cable television market in 1962 with the purchase of cable systems in Pennsylvania, California, Oregon, and Washington. The success of the radio, television, and cable systems led to the...