Cox Enterprise Sells Majority Stake in TV Stations Group to Apollo

Cox will keep a minority stake and join Apollo in forming new company to operate the stations.

February 15, 2019

1 Min Read

ATLANTA -- Cox Enterprises Inc. today announced that it has reached an agreement with funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo" to buy a majority interest in Cox Media Group's broadcast television stations, including the company's radio, newspaper and TV properties in Ohio. Cox Enterprises will maintain a minority stake and will join the Apollo Funds in forming a new company to operate these stations, which will be headquartered in Atlanta, Ga.

Cox Media Group's high-performing TV stations serve some of the most desirable markets in the country and reach a combined 31 million viewers nationwide. With a deep focus on investigative journalism, these TV stations are leading local news and information outlets, and cornerstones of the communities they serve.

The stations, which represent Cox Media Group's entire television portfolio, are: WSB-TV, ABC Atlanta, Ga.; WFTV-TV, ABC Orlando, Fla.; WRDQ-TV, Independent Orlando, Fla.; WSOC-TV, ABC Charlotte, N.C.; WAXN-TV, Independent Charlotte, N.C.; WPXI-TV, NBC Pittsburgh, Pa.; WHIO-TV, CBS Dayton, Ohio; KIRO-TV, CBS Seattle, Wash.; WHBQ-TV FOX, Memphis, Tenn.; WFOX-TV, FOX Jacksonville, Fla.; WFXT-TV, FOX Boston, Mass.; KOKI-TV, FOX Tulsa, Okla.; KMYT-TV, My Network Tulsa Okla.

In addition to WHIO-TV, the Apollo Funds will acquire a majority stake in Cox Media Group's other media platforms in Ohio: Dayton Daily News; WZLR, 95.3 FM and 101.1 FM; Springfield News-Sun; WHKO, 99.1 FM; Journal-News; and WHIO, 95.7 FM and 1290 AM

Apollo Global Management
Cox Enterprises

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