Sale Of Cox Media Group TV Stations To Apollo Global Management Funds Includes Dayton Radio Cluster



The sale of a majority stake in COX MEDIA GROUP’s TV stations to funds managed by APOLLO GLOBAL MANAGEMENT will also include News-Talk WHIO-A-F, Classic Hits WZLR-W266BG (95.3 AND 101.1 THE EAGLE), and Country WHKO (K99.1)/DAYTON and tbe DAYTON DAILY NEWS, ALEINGFIELD NEWS-SUN, and JOURNAL-NEWS.  COX ENTERPRISES will retain a minority interest in the operation.  No price was announced for the deal.

The TV stations include ABC affiliate WSB-TV/ATLANTA; FOX affiliate WFXT-TV/BOSTON; CBS affiliate KIRO-TV/SEATTLE; ABC affiliate WFTV (TV) and independent WRDQ-TV/ORLANDO; ABC affiliate WSOC-TV and independent WAXN-TV/CHARLOTTE; CBS affiliate WHIO-TV/DAYTON; NBC affiliate WPXI-TV/PITTSBURGH; FOX affiliate WHBQ-TV (FOX 13)/MEMPHIS; FOX affiliate KOKI-TV (FOX 23) and MY NETWORK TV affiliate KMYT-TV/TULSA; and FOX affiliate WFOX-TV (FOX 30)/JACKSONVILLE, plus a shared services agreement under which COX operates CBS affiliate WJAX-TV (CBS 47)/JACKSONVILLE.

“These stations have decades of experience breaking barriers and delivering the news and information their communities need daily,” COX ENTERPRISES Pres./CEO ALEX TAYLOR said. “We wanted to find a company that is committed to investing in broadcast television now and in the future, and we found that in APOLLO.”

“We are extremely excited for our funds to acquire a majority interest in COX MEDIA GROUP’s broadcast television stations and are humbled by COX ENTERPRISES’ decision to entrust us to steward these stations and carry on the COX legacy,” APOLLO Sr. Partner DAVID SAMBUR said. “We have an extraordinary amount of respect and admiration for the journalistic integrity, news quality, and commitment to community across COX MEDIA GROUP’s broadcast stations. We look forward, in collaboration with COX ENTERPRISES, to supporting the high standards to which each station operates and contributing to the platform’s future growth and prosperity.

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