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Cox Radio recommends Cox Media tender offer to shareholders
By Lisa Kerner
Charlotte, N.C., April 3 - The special committee of Cox Radio, Inc.'s board of directors unanimously recommended that the company's shareholders accept the $3.80-per-share tender offer by Cox Media Group, Inc., a subsidiary of Cox Enterprises, Inc.
Cox Radio filed a schedule 14D-9 with the Securities and Exchange Commission announcing its decision.
As previously reported, Cox Media began the tender offer for Cox Radio on March 23.
The tender offer is valued at approximately $69.1 million and is slated to end April 17, Cox Media said.
Cox Radio, an Atlanta-based radio broadcasting company, is a subsidiary of Cox Media.
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