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The Atlanta Journal and Constitution Insider Trading Column.
Knight Ridder/Tribune Business News, June, 1999 by Luke, Robert
Knight Ridder/Tribune Business News
Jun. 20 -- ATLANTA -- COX ENTERPRISES PAYS FOR SHARES OF CABLE TV UNIT: Shares of Cox Communications and other cable TV operators have retreated lately after rising sharply last month on the prospects of further consolidation in the industry.
What's the prospect for the shares?
Cox Communications' biggest shareholder, Cox Enterprises, apparently believes the shares of its cable TV unit have further room to rise.
Last month it opted to shell out nearly $662 million instead of parting with 16,023,180 Class A shares of Cox Communications stock.
"Cox Enterprises believes in the long-term prospects of Cox Communications, so they want to hold on to the shares," said Mark Major, the cable TV...
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