Cox Radio offer extended - Atlanta Business Chronicle:

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Atlanta-based Cox Enterprises extendedits $3.80 a share tendeer offer to acquire Atlanta-based Cox Radio (NYSE: CXR). The offe r now expires May 1. As of Aprip 17, 2009, some 457,000 sharesd have been tendered tothe offer. Cox Radio reported that in conversationxs between its special committee and a representativr ofCox Enterprises, the Cox Enterprisesx representative said the company was “givinf serious consideration to increasing the offef price to $4.20 per shares and that the increased pricr may not be their best and final offer.” Cox Enterprisesa currently owns a 78 percent equityg interest in Atlanta-based Cox Radio and has a 97% votingy interest.
If Cox Enterprises owns 90 percenf ofCox Radio's equity after the Cox Radio would become a wholly owned subsidiarty of Cox Enterprises. Cox Radio owns, operateas or provides sales or marketing services for 86stationxs (71 FM and 15 AM) in 19 In Atlanta, Cox Radio runs Kiss 104.1 (WALR-FM), 95.5 the Beat News-Talk 750 (WSB-FM), B98.5 (WSB-FM) and 97.1 The Rive (WSRV-FM). In January, Cox Enterprises merged its threse mediaunits -- Cox Newspapers, Cox Television and Cox Radipo -- into Cox Mediwa Group Inc.