Cox Communications is considering the sale of four of its cable operations serving 900,000 customers
March 8, 2005
ATLANTA -- Cox Communications, Inc. today announced it is exploring a sale of four cable operations serving approximately 900,000 subscribers.
This is one of a number of strategic options being considered to reduce debt and accelerate growth. A successful sale would allow Cox Communications to focus resources on its remaining cable operations and on the rollout of new products and services.
Systems under consideration for sale include West Texas, serving the Lubbock, Midland, Amarillo, San Angelo and Abilene areas; North Carolina, serving the Greenville, Rocky Mount, New Bern and Kinston areas; Humboldt County, California; and much of Middle America Cox (MAC), primarily comprised of operations in Texas, Louisiana and Arkansas. MAC also includes certain systems in Oklahoma, Mississippi and Missouri. Excluded from the potential sale are some operations serving the Northwest Arkansas and Lafayette, Louisiana areas.
Citigroup Global Markets, Lehman Brothers, Inc., and JP Morgan Securities Inc. have been retained by Cox as advisors.
Cox Communications Inc.
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