Weeters 1570 Posted June 2, 2020 Share Posted June 2, 2020 TVNewsCheck has an interview with Cox CEO Steve Pruett, former Sinclair CEO, that is the requiem for the Cox group as we knew it. If you thought nothing would change under Apollo ownership, does this have some scary news for you. https://tvnewscheck.com/article/top-news/249544/cox-chair-station-groups-need-alliances/ Some interesting tidbits: On "Work from Home": Quote There are things that you always thought you had to do that you now know you don’t have to do anymore. You can launch your teams directly. They don’t have to come into the station and then go back out. That will be an advantage, especially in big, congested markets. On synergies through scale (see also: hubbing, corporate graphics/music): Quote I don’t characterize [Apollo] as a typical PE. They are very strategic; they have thought this through very carefully. The look for businesses that generate free cash flow and where there are synergies available through scale. Broadcasting fits that model. On ownership deregulation: Quote We should be allowed to own multiple stations — multiple Big 4s — in a market. We should be allowed to own as many stations as we want. I am very much a pro-deregulation thinker. That is where a lot of our opportunity is yet to be realized. We have been overregulated and out-lobbied by the cable guys, the telephone guys, the wireless guys. The broadcast industry, when it comes to getting ourselves deregulated, has to be categorized as the gang that can’t shoot straight. So yeah, long story short, Apollo is going to turn Cox into Sinclair 2 and use their influence to push through ownership deregulation. Enjoy your local Cox station while it's still somewhat autonomous. Link to comment Share on other sites More sharing options...
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