Cox Radio, Inc. announced that it has entered into an agreement in principle to acquire the outstanding capital stock of Marlin Broadcasting, Inc., which owns radio stations WTMI-FM serving Miami, WCCC-FM and WCCC-AM serving Hartford, Connecticut and WBOQ-FM serving Glouchester, Massachusetts, for approximately $125 million. As part of this transaction, Cox Radio will sell the assets of WCCC-FM, WCCC-AM, and WBOQ-FM to certain principals of Marlin Broadcasting for approximately $25 million.
With the addition of WTMI-FM, Cox Radio will own, operate or provide sales and marketing services for 4 FM stations serving the Miami market, the nation's 12th largest radio revenue market.
Cox Radio is the fifth largest radio company in the United States based on net revenues. Upon the close of all announced transactions, Cox Radio will own, operate, or provide sales and marketing services for 76 stations (57 FM and 19 AM) clustered in 15 markets.