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CaPa

Cox Sells Radio To Apollo, Too

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Cox Media Group lives! Okay, Cox Enterprises' version is selling all of its radio stations but two to Apollo Global Management, which will combine them with the TV stations it also bought from Cox (two radio spinoffs to be divested, WPYO/Orlando and WSUN/Tampa), and the operation will keep the Cox Media Group name after all:

 

https://www.allaccess.com/net-news/archive/story/187463/cox-media-group-sells-its-radio-stations-to-apollo

 

 

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1 hour ago, CaPa said:

Cox Media Group lives! Okay, Cox Enterprises' version is selling all of its radio stations but two to Apollo Global Management, which will combine them with the TV stations it also bought from Cox (two radio spinoffs to be divested, WPYO/Orlando and WSUN/Tampa), and the operation will keep the Cox Media Group name after all:

 

https://www.allaccess.com/net-news/archive/story/187463/cox-media-group-sells-its-radio-stations-to-apollo

 

 

 

 I called this when they announced their intent to pursue a divestiture of the radio division. They had already acquired the Dayton cluster so this was a no brainer.

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Posted (edited)
22 hours ago, DirtyHarry said:

Atlanta Journal-Constitution to GateHouse Media? 

That's basically going to be only major asset left (besides Cox Cable) with 100% ownership.I know they were the ones that snag the South Bend Tribune & the Columbus DIspatch (along with hundreds of other papers in recent years). Cox can't be that stupid to giving up their crown jewel to GateHouse. I just don't see that happening.

 

Anywho. The Paperwork is up regarding the Cox Radio stations going to Apollo. Here's the comprehensive exhibit & purchase agreement. Apollo is paying $500M for the radio assets.

 

The two radio stations in the I-4 corridor (WPYO Maitland (Orlando) & WSUN Holiday (Tampa)) will be placed in a Divestiture Trust. The trust will be ran by Elliot Evers through CXR Media, LLC.

 

 

Edited by CircleSeven

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Posted (edited)
On 7/3/2019 at 12:34 AM, CircleSeven said:

I know they were the ones that snag the South Bend Tribune & the Columbus DIspatch (along with hundreds of other papers in recent years). Cox can't be that stupid to giving up their crown jewel to GateHouse. I just don't see that happening.

 

Gatehouse does their artwork from their graphics hub in Austin. Gatehouse already bought the Cox papers in Palm Beach and Austin from Cox, so they already have a working relationship.

 

To me these newspaper chains are the same as the TV chains. There isn't too much difference between them. What do you have a choice between Gatehouse and Gannett and a couple others, it's not a huge difference.

Edited by DirtyHarry

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