Jump to content

Cox Enterprises

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by MDHonWiki (talk | contribs) at 12:50, 1 October 2019 (→Cox Automotive: Corrected spelling error. Changed "luxery" to "luxury" in the first sentence of the second paragraph.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Cox Enterprises, Inc.
Company typePrivate
Industry
  • Automotive Services
  • Communications
  • Media
Founded1898; 127 years ago (1898) in Dayton, Ohio
FounderJames M. Cox
Headquarters
Atlanta, Georgia
Area served
Worldwide
Key people
James C. Kennedy, Chair
Alexander C. Taylor, President and CEO
ProductsTelecommunications, Automotive, Mass media
RevenueIncrease US$21 billion (2018)
OwnerCox family
[1][2]
Number of employees
55,000
SubsidiariesCox Communications
Cox Media Group
Cox Automotive
Websitewww.coxenterprises.com
Cox Headquarters' "Central Park" in Sandy Springs, GA includes the company's buildings and leased spaces.

Cox Enterprises, Inc. is a privately held global conglomerate headquartered in Atlanta, Georgia with approximately 55,000 employees and $21 billion in total revenue. Its major operating subsidiaries are Cox Communications, Cox Automotive and Cox Media Group. The company's major national brands include AutoTrader, Kelley Blue Book, Cox Homelife, Gamut and more. Through Cox Automotive, the company's international operations stretch across Asia, Australia, Europe and Latin America. Cox Enterprises is currently led by Alexander C. Taylor, a fourth-generation Cox family member and great-grandson of founder James M. Cox. James M. Cox's grandson, James C. Kennedy and other members of the Cox family are on the company's board of directors.[3]

History

The company was founded in Dayton, Ohio by James M. Cox, who purchased the Dayton Daily News in 1898[citation needed]. Cox later became the Democratic Party candidate for president of the United States in the presidential election of 1920, running unsuccessfully on a ticket that included Franklin D. Roosevelt as the vice presidential candidate.[citation needed] The company is also well-known for its ownership of Bing Crosby Productions and Rysher Entertainment. The two companies merged in 1993 and Cox shut down the company and sold its distribution assets to Viacom. Now, they are a part of the archives of CBS Television Distribution as well as the back catalog of Paramount Pictures.

James M. Cox Jr. became the company's chairman after his father died in 1957. The family and company were highlighted in a 2015 Forbes article called "This Billionaire Knows the Secret to Saving a Family Business".[4]

Cox Jr. died in 1974 and his sisters inherited ownership. Barbara Cox's second husband Garner Anthony and son by her first husband James Cox Kennedy have served as chairman, and in 2018 Anne Cox's grandson Alexander C. Taylor became chief executive officer and president.

Principal subsidiaries

Cox Communications

Cox Communications is the third-largest U.S. cable company, serving approximately 6 million residences and businesses. It provides advanced digital video, Internet, telephone and home security and automation services over its own nationwide IP network.[5][citation needed]

Cox Communications formed an alliance with the Cleveland Clinic to take Healthcare to the home in February 2015. The company has also been deploying residential gigabit internet service.[citation needed]

Cox Media Group

Cox Media Group (CMG) is an integrated broadcasting, publishing, direct marketing and digital media company. Its properties include broadcast television and radio stations, daily newspapers runs metro newspapers, non-daily publications, and has more than 100 digital services.[citation needed] In 2019 Cox Enterprises reached an agreement with Apollo Funds to buy majority interest in Cox Media Group's broadcast television stations, including the company's radio, newspaper and TV properties in Ohio. Cox will maintain a minority stake and will join the Apollo Funds in forming a new company to operate these stations.[6]

Cox Media Group is also involved in automated and programmatic sales through Videa.[citation needed]

Cox Automotive

Cox Automotive is a provider of vehicle remarketing services and digital marketing and software solutions for automotive dealers and consumers. Its mission is to "make buying, selling, owning and using cars easier for everyone."[7] Cox Automotive brands include Manheim, Clutch Technologies, Dealer-Auction Ltd, AutoTrader, Kelley Blue Book, vAuto, Dealer.com, Dealertrack, NextGear Capital, Xtime, Vinsolutions and a host of global businesses and brands serving auto dealers, manufacturers and financial institutions.

In September of 2019, Cox Automotive's Mobility Division entered into an agreement with Rivian, the company developing the first luxury all electric truck. In the deal, Cox will invest 350 million dollars into Rivian with the two companies exploring partnership opportunities in service operations, logistics, and digital retailing.

In June 2015, Cox Automotive announced the biggest vendor acquisition in the history[8] of auto retailing by agreeing to pay $4 billion in cash for dealer software giant Dealertrack Technologies Inc.[9] The acquisition closed in October 2015.[10]

References

  1. ^ "Cox Enterprises Inc. Financial Statements". Institute of Media and Communications Policy. September 17, 2012.
  2. ^ "Three Cox Billionaires Minted as Matriarch Gives Away Wealth". Bloomberg. November 20, 2015.
  3. ^ "Cox Enterprises Elects Alex Taylor and Jamie Kennedy to Board of Directors - Apr 22, 2014". Coxenterprises.mediaroom.com. April 22, 2014. Retrieved November 7, 2015.
  4. ^ "This Billionaire Knows The Secret To Saving A Family Business". Forbes.com. Retrieved November 7, 2015.
  5. ^ "Cox Enterprises Businesses". {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  6. ^ Enterprises, Cox. "Cox Enterprises Reaches Agreement for Funds Managed by Affiliates of Apollo Global Management to Buy Majority Stake in Cox Media Group Television Stations". www.prnewswire.com. Retrieved March 19, 2019.
  7. ^ "Cox Automotive | Cox Enterprises". {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  8. ^ George, Anya (June 15, 2015). "Cox Automotive to buy Dealertrack in $4 billion deal". Reuters. Retrieved November 7, 2015.
  9. ^ "Cox goes bold with giant Dealertrack deal". Autonews.com. June 22, 2015. Retrieved November 7, 2015.
  10. ^ "Cox Automotive Opening New Doors to Clients, Team Members and Auto Industry with Completion of Acquisition of Dealertrack | Cox Automotive". Coxautoinc.com. Retrieved November 7, 2015.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Cox_Enterprises&oldid=919026380"