NEW YORK (Standard&Poor's) May 11, 2007--Standard&Poor's Ratings Services said today it revised its outlook on Atlanta, Ga.-based diversified media company Cox Enterprises Inc. (CEI) and its subsidiaries to positive from stable. We also affirmed the 'BBB-' corporate credit and all other ratings, including the 'BB+' senior unsecured debt rating on CEI. Total debt outstanding was about $15.1 billion as of Dec. 31, 2006. "The outlook revision reflects our expectations for improving credit measures," said Standard&Poor's credit analyst Allyn Arden. This follows CEI's announcement that it is exchanging its 25% stake in the Discovery Channel for a new entity, which will include the Travel Channel, and $1.275 billion in cash. We expect the cash proceeds
