Cashing out at Cox Radio


Lawsuits are pending from disgruntled former shareholders who think $4.80 per share was not enough for Cox Enterprises to take Cox Radio private. Of course, Cox Radio employees were also cashed out for their shares and CEO Bob Neil has filed his last ownership report with the SEC.

As Cox Enterprises bought up all outstanding shares of Cox Radio that it didn’t already own on Friday, May 29th, 75,797 of those shares came from Neil. At $4.80 per share, that totaled $363,825.60.

Of course, Bob Neil still has his job, which paid a total of $1.4 million in 2007, including bonus and perks on top of a base salary of $675,000.

His base salary was upped to $700,000 in 2008, but we won’t know what his total compensation was. After all, private companies don’t have to tell.