Cox Enterprises announced today that the company is bringing together its three media units — Cox Newspapers, Cox Television and Cox Radio — under a new organization named Cox Media Group Inc., effective January 2009. The subsidiary will be headquartered in Atlanta and led by Sandy Schwartz, currently head of Cox Newspapers.

"Bringing together our media operations under one organization creates efficiencies that allow us to strengthen Cox for the future," said Jimmy Hayes, president-chief operating officer of Cox Enterprises. "Working together, our businesses will grow to become more cost effective, learn more from each other and continue their leadership position in serving our markets."

The businesses comprising Cox Media Group will include 17 daily and 26 non-daily newspaper publications, 15 television broadcast stations, 86 radio stations, more than 100 digital services associated with these businesses and Valpak. Cox's planned sale of Valpak and newspaper assets in Texas, North Carolina and Colorado continues during this reorganization.

Cox said that each of Cox's three media units will benefit from more comprehensive and efficient corporate resources while retaining separate operations. Additionally, it said that each business within Cox Media Group will gain access to an expanded knowledge base given Cox's strong focus on market research.

"Another advantage to Cox Media Group is that we are bringing together our wide array of digital resources that ultimately will lead to enhanced online and mobile experiences for all our audiences," said Schwartz.

All of Cox's media properties are managed and run locally with employees who live in the communities they serve. Additionally, the company said "each business location will continue to make important contributions of time, talent and financial support to their local communities."

Following the formation of Cox Media Group, Cox Radio will continue to trade publicly on the New York Stock Exchange under the symbol CXR.