ATLANTA, June 8, 2009 - Cox Communications today announced that it has engaged Goldman, Sachs & Co. to evaluate the long-term strategic alternatives for Travel Channel Media. Travel Channel Media is the world's leading multi-platform media company devoted to travel. Its businesses include The Travel Channel, a fully distributed television network available in more than 94 million US homes, and travelchannel.com.
No decision has been made as to whether Cox will undertake any transaction involving Travel Channel. The company is exploring options ranging from maintaining the current business structure to joint ventures and other potential structures. Cox has received unsolicited inquiries regarding Travel Channel Media. Goldman, Sachs & Co. will help Cox to better understand the options and respond to the opportunities.
Cox Communications' President, Pat Esser, said, "Travel Channel has been a wholly-owned subsidiary of Cox Communications since May 2007. In that time, it has made significant contributions to our business. Travel Channel has continued to evolve as a successful and high-value business, delivering record ratings growth, broader audience reach and increased brand awareness in the marketplace."
About Cox Communications:
Cox Communications is a multi-service broadband communications and entertainment company with 6.2 million total residential and commercial customers. The third-largest cable television company in the United States, Cox offers an array of advanced digital video, high-speed Internet and telephony services over its own nationwide IP network. Cox Business is a full-service, facilities-based provider of communications solutions for commercial customers, providing high-speed Internet, voice and long-distance services, as well as data and video transport services for small to large-sized businesses. Cox Media offers national and local cable advertising in traditional spot and new media formats, along with promotional opportunities and production services. Cox Communications wholly owns and operates the Travel Channel. More information about the services of Cox Communications, a wholly-owned subsidiary of Cox Enterprises, is available at www.cox.com, www.coxbusiness.com and www.coxmedia.com.
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Media Contact:
David Grabert
Director, Media Relations
404.269.7054
David.Grabert@Cox.com
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