Cox Media Group sells 60 stations to Apollo Global Management

COX ENTERPRISES’ COX MEDIA GROUP is selling its radio stations, COXREPS, and GAMUT to APOLLO GLOBAL MANAGEMENT, the investors who bought COX’s TV stations and DAYTON DAILY NEWS. The combined new company will continue to use the COX MEDIA GROUP name rather than the “TERRIER MEDIA” name APOLLO had previously announced for its TV acquisitions, and will be headquartered in ATLANTA.  No price was disclosed for the deal. COX ENTERPRISES will retain a minority stake in the new COX MEDIA GROUP. The combined company will divest one FM in each of the ORLANDO and TAMPA markets, Top 40 WPYO (POWER 95.3)/ORLANDO and Alternative WSUN (97X)/TAMPA.

“We are happy our COX RADIO and national ad platforms will continue to be operated with our television group,” said COX ENTERPRISES Pres./CEO ALEX TAYLOR. “Keeping these media businesses together gives us even more confidence in the future success of the new company. We have spent many years fostering a culture of collaboration and innovation across these businesses and are pleased to see that work will continue.”

“We are thrilled to acquire the COX RADIO station portfolio, COXREPS and GAMUT and combine them with the COX TELEVISION business to form a new media company focused on quality local broadcasting,” said APOLLO Chairman/Sr. Partner DAVID SAMBUR. “COX has deep roots in the media industry and has stood for the highest quality in local journalism for the past 120 years. As we shepherd these businesses into the future, we are committed to investing in high quality programming and fostering innovation in local media.”

The stations included in the deal:

News-Talk WSB-A-WSBB, Urban AC WALR, AC WSB-F (B98.5), and Classic Hits WSRV (97.1 THE RIVER)/ATLANTA Sports WRFC-A (960 THE REF), News-Talk WGAU-A, AC WGMG (MAGIC 102.1), Adult Hits WXKT (103.7 CHUCK FM), Top 40 WPUP (POWER 100.1), and Country WNGC/ATHENS, GA, Urban WEDR (99 JAMZ), Top 40 WFLC (HITS 97.3), AC WFEZ (EASY 93.1), and Urban AC WHQT (HOT 105.1)/MIAMI, Top 40 WAPE, News-Talk WOKV-F, Sports WOKV-A (ESPN 690), Urban WOKV-FM-HD2-W258CN (HOT 99.5), Classic Hits WJGL (96.9 THE EAGLE), Urban WJGL-HD2-W291CI (POWER 106.1), Alternative WXXJ (X106.5), and AC WEZI (EASY 102.9)/JACKSONVILLE, Country KKBQ (93Q), Classic Country KTHT (97.1 COUNTRY LEGENDS), and Classic Rock KHPT-KGLK (THE EAGLE)/HOUSTON, Top 40 WBLI and Rock WBAB/LONG ISLAND, News-Talk WDBO-F (NEWS 96.5), Country WWKA (K92.3), Classic Hits WMMO, Urban AC WCFB (STAR 94.5), Spanish Hits WCFB-HD2-W297BB (107.3 SOLO EXITOS), and Sports WDBO-A (ESPN 580)/ORLANDO, Rock KISS, Classic Hits KONO-F, Classic Rock KTKX (106.7 THE EAGLE), Classic Country KKYX-A-K285EU (COUNTRY LEGENDS 680AM & 104.9 FM), Country KCYY (Y100), Oldies KONO-A, and Hot AC KSMG (MAGIC 105.3)/SAN ANTONIO, Top 40 WPOI (HOT 101.5), Classic Rock WXGL (107.3 THE EAGLE), AC WDUV, Hot AC WWRM (MAGIC 94.9), and Talk WHPT (102.5 THE BONE)/TAMPA, Classic Rock KJSR (103.3 THE EAGLE), Hot AC KRAV (MIX 96.5), Country KWEN (K95.5), Active Rock KWEN-HD2-K289CC (105.7 THE BONE), and News-Talk KRMG-A-F/TULSA