Business News

Cox Enterprises to Sell Waco Tribune-Herald to Robinson Media Company, LLC

Thursday 16. July 2009 - Cox Enterprises, Inc. announced today it has reached a definitive agreement to sell the Waco Tribune-Herald to Robinson Media Company, LLC. The transaction is expected to close in the upcoming weeks.

“The Waco Tribune-Herald and its employees have made significant contributions to our company,” said Doug Franklin, executive vice president, Cox Newspapers. “Under Robinson Media Company’s ownership, the Tribune-Herald will continue to excel in journalism and serving advertisers, as well as remain an integral part of the community.”

It is anticipated that virtually all employees will be retained under the new ownership. Belinda Gaudet, current publisher of the Tribune-Herald, will be retiring, and Dan Savage will serve as the interim publisher. The Tribune-Herald, a Pulitzer Prize finalist in 1994 for its investigative reporting, dates back to the 19th century.

“I’ve spent my life in Waco and recognize the importance of the Waco Tribune-Herald,” said Clifton Robinson, chairman and CEO of Robinson Media Company. “The paper is vital to this community, and I’m thrilled to be part of such an important organization. I look forward to meeting and working with the employees who make the paper the success it is today and will continue to be in the future.”

As announced in 2008, Cox Enterprises continues to market for sale its newspapers in Colorado, North Carolina and Texas. Cox recently sold The Lufkin Daily News and The Daily Sentinel (Nacogdoches, Texas) to Houston-based Southern Newspapers. Citigroup and Dirks, Van Essen & Murray have been retained to assist Cox Enterprises with the marketing of these assets.