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#161 Blair Parry-Okeden $9.04B

Random fact: Brother James is chairman of Cox Enterprises.

Overview

Parry-Okeden owns almost 25 percent of Cox Enterprises, a media and automotive services conglomerate. The Atlanta-based company controls the third-biggest cable operator in the U.S., which serves about 6 million homes and businesses. She owns almost 25 percent of the group, which had sales of $20.1 billion in 2016.

As of July 21, 2017:
Last change +$101M (+1.1%)
YTD change +$331M (+3.8%)
Industry Media & Telecom
Biggest asset Cox Communications
Citizenship United States
Age 66
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Blair Parry-Okeden's net worth of $9.04B can buy ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Parry-Okeden is a granddaughter of James Cox, who founded Cox Enterprises, a media conglomerate. She owns almost 25 percent of the company; her brother, James Kennedy, owns an equivalent share. They inherited their stake from their mother, Barbara Cox Anthony. Three cousins collectively own 49 percent.

Cox Enterprises has three units: Cox Communications, Cox Media Group and Cox Automotive. Cable company Cox Communications is the third-largest cable operator in the U.S., according to the company's website. It had revenue of $11 billion in 2016, according to the website, and debt of $9.2 billion as of May 2017, according to data compiled by Bloomberg. The company wouldn't comment on its debt. It's valued using the average enterprise value-to-Ebitda multiple of four publicly traded peer companies: Comcast, Verizon, Scripps Networks, and Rogers Communications.

Cox Media Group operates six daily newspapers, 14 television stations and more than 60 radio stations, among other assets, and had revenue of $1.8 billion in 2016, according to its website. Its valuation is based on the average enterprise value-to-Ebitda multiple of five publicly traded peers: EW Scripps, New York Times, Gannett, McClatchy and Sinclair Broadcast and discounted by 15 percent.

Cox Automotive is a provider of car sales software technology. It had revenue of $7.3 billion in 2016, according to its website. Cox Automotive is valued on the average enterprise value-to-Ebitda multiples of KAR Auction Services, CarMax and Penske Automotive.

Kennedy's 25 percent share of corporate-level debt is included as a liability.

Biography

Birthdate: 1950
Family: Divorced, 2 children

Blair Parry-Okeden is the granddaughter of James M. Cox, who founded Cox Enterprises after buying the Dayton Evening News in 1898. Cox became a politician, serving first as an Ohio state representative, then as governor. In 1920, he ran for the U.S. presidency as a Democrat, losing to fellow newspaper publisher Warren G. Harding.

Following his death in 1957, Cox's two daughters, Anne Cox Chambers and Parry-Okeden's mother, Barbara Cox Anthony, took control of Cox Enterprises, which had diversified into television and radio. Chambers became the chairwoman of the company's Atlanta Newspapers division, which owned the Atlanta Journal-Constitution. Anthony's husband, James, took the top position in the company.

Parry-Okeden's brother, James Kennedy, began working at Cox Enterprises two years after graduating from the University of Denver in 1970. He started out as a newspaper prouction assistant and worked his way up to general manager. In 1985, he was made vice president of Cox Newspapers. He was appointed chairman and CEO three years later. Today, Cox Enterprises operates dozens of periodicals, television stations and radio stations as well as one of the lagrest cable systems in the U.S. and multiple auto marketing technology platforms online.

In 1977, Parry-Okeden married Australian Simon Parry-Okeden, with whom she has two sons. The couple has since divorced. Parry-Okeden still resides in Australia, tending to the land holdings her late mother began to acquire in the 1970s.

Milestones
  • 1898 Grandfather James M. Cox buys the Dayton Evening News.
  • 1922 Mother, Barbara Blair Cox Anthony, is born in Ohio.
  • 1977 Marries Simon Parry-Okeden in Australia.
  • 1989 Publishes a children's book called "Down by the Gate."
  • 1995 Company spins off Cox Communications in an initial public offering.
  • 2004 Family takes Cox Communications private.
  • 2007 Mother, Barbara Cox Anthony, dies.
  • 2012 AutoTrader.com files to sell shares in an initial public offering.