Some changes with Cox Enterprises you may not have seen.
Cox said last week Apollo Global Management will 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 small share and will join the Apollo Funds in forming a new company to operate these stations, headquartered in Atlanta.
Cox Media Group’s TV stations reach a combined 31 million viewers nationwide. The stations, which represent Cox Media Group’s entire television portfolio, are:
WFTV (ABC) Orlando, Fla. & WRDQ (ind.)
WSOC (ABC) Charlotte, N.C. & WXAN (ind.)
WPXI (NBC) Pittsburgh
WHIO (CBS) Dayton, Ohio
KIRO (CBS) Seattle
WHBQ (FOX) Memphis
WFOX (FOX) Jacksonville, Fla.
WFXT (FOX) Boston
KOKI (FOX) Tulsa, Okla. (Fox)-KMYT (MNT)
Cox Media Group also provides programming, sales and other operations services for WJAX (CBS) Jacksonville, Fla.
In addition to WHIO, the Apollo Funds will acquire a majority stake in Cox Media Group’s other media platforms in Ohio: Dayton Daily News, Springfield News-Sun, Journal News, WZLR-FM Dayton, WHKO-FM Springfield and WHIO-AM-FM Dayton
Cox Enterprises said it began exploring strategic alternatives for the stations last July, no word what the transaction cost.