Cox Media Group announced it is reorganizing its New York-based ad-sales companies – TeleRep, HRP, MMT and Cox Cross Media – under a new organization named “Cox Reps,” effective immediately. Cox Reps will be headquartered in New York, and Jim Monahan will serve as president.
“As the ad market changes, Cox too must make adjustments,” said Monahan. “Despite the challenging economy, television remains a key media format and Cox Reps is committed to serving this market. Restructuring our rep firms produces significant cost reduction and back-end collaboration.”
Cox Reps is the top billing television ad-sales company, representing 40% of all national spot advertising. Along with traditional television ad-sales, Cox Reps also provides multi-platform digital services such as mobile and online. Cox Cross Media is a leading local media online marketing provider and works with more than 700 local media web and mobile sites.
The restructuring will result in approximately 150 position eliminations across Cox Reps’ national network. The number will vary per market. Cox Reps will work closely with its customers as changes take place across account teams.
RBR/TVBR observation: Cox Enterprises had previously done a restructuring of its business units. That created Cox Media Group and this is a streamlining of the TV reps under that umbrella.