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Article: Cox Radio Announces Share Repurchase Authorization.
- Article from:
- PR Newswire
- Article date:
- August 29, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, Aug. 29 /PRNewswire-FirstCall/ -- Cox Radio, Inc. today announced that its Board of Directors has authorized a share repurchase program through which Cox Radio, from time to time, may repurchase up to $100 million of its Class A common stock in the open market or through privately negotiated transactions, with the amount and timing of repurchases to be determined by the Company's management.
Robert F. Neil, President and CEO stated: "Cox Radio's strong free cash flow generation has allowed us to de-lever and strengthen our balance sheet considerably over the last several years. This share repurchase program provides us with flexibility in the use of ...