SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 26, 1998
Cox Radio, Inc.
-------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware
-------------------------------------------------------------------------------
(State or other jurisdiction of incorporation or organization)
1-12187 58-1620022
------------------------------------------------------------------------------
(Commission File Number) (I.R.S. Employer Identification Number)
1400 Lake Hearn Drive, Atlanta, Georgia 30319
------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(404) 843-5000
-------------------------------------------------------------------------------
Registrant's telephone number, including area code
<PAGE>
Item 5. Other Events.
The Company issued the accompanying press release on May 29, 1998,
announcing its completion, on May 26, 1998, of the sale of $100 million
principal amount of its 6.25% Notes due 2003 and $100 million principal amount
of its 6.375% Notes due 2005 in an offering exempt from the registration
requirements of the Securities Act of 1933, as amended, through NationsBanc
Montgomery Securities LLC, Chase Securities Inc. and J.P. Morgan Securities Inc.
Item 7. Financial Statements and Exhibits
Exhibit 99 Press Release dated May 29, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COX RADIO, INC.
Dated: June 4, 1998 By: /s/Andrew A. Merdek
------------------------
Andrew A. Merdek
Corporate Secretary
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
Exhibit 99 Press Release dated May 29, 1998
Exhibit 99
COX RADIO ANNOUNCES PRIVATE PLACEMENT OF SECURITIES
ATLANTA, May 29, 1998 - Cox Radio, Inc. (NYSE:CXR) announced today that
it has privately placed $200 million in aggregate principal amount of senior
notes consisting of $100 million 6-1/4% Notes due 2003 and $100 million 6-3/8%
Notes due 2005. The private placement was sold by NationsBanc Montgomery
Securities LLC, Chase Securities Inc. and J.P. Morgan Securities Inc.
The offerings were made by means of an offering memorandum to qualified
institutional buyers pursuant to Rule 144A. Proceeds from the offerings will be
used to repay existing indebtedness under the Company's revolving credit
agreement. As a result, approximately $200 million will be available for the
Company to borrow on a revolving basis to finance future acquisition
opportunities.
The Notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements. The Company has
agreed to file a registration statement with the Securities and Exchange
Commission relating to an exchange offer for, or a resale of, the Notes (the
"Exchange Offer"). If the Exchange Offer is not consummated, or a resale
registration is not declared effective, within prescribed time periods,
additional interest will be payable on the Notes.
Commenting on today's announcement, Maritza Pichon, Chief Financial
Officer of Cox Radio said, "We are pleased to secure this financing at such
attractive rates as we continue to take advantage of the attractive economics of
the radio industry."
Cox Radio is one of the 10 largest radio broadcasting companies in the
United States, based on both net revenue and number of stations. Upon the
closing of all pending transactions, Cox Radio will own, operate or provide
sales and marketing services for 59 stations (40 FM and 19 AM) clustered in 13
markets including Los Angeles and Atlanta and the Sunbelt markets of Miami,
Tampa, Orlando, San Antonio and Birmingham. Cox Radio shares are traded on the
New York Stock Exchange under the Symbol: CXR.
<PAGE>
