Business & Tech
Apollo Nearing $3 Billion Deal To Buy Cox TV Stations: Report
Cox Media Group is headquartered in Atlanta. The deal also includes WSB, the No. 1 news station in the market.
NEW YORK -- WSB-TV, the No. 1 news station in one of the nation's biggest media markets, may soon be acquired by New York-based Apollo Global Management, as part of a $3 billion deal to buy Cox's TV stations. Reuters and CNBC are reporting the deal could make Apollo Global Management a major force in the U.S. broadcasting industry.
Atlanta may not be the only city in which the two companies decide to have joint ventures, according to the report. An agreement could be announced later this week.
Last fall, Cox Media Group sold Munco Hispanico to the Mundo Hispano Digital Network. The sale came months after Cox Enterprises in July said it would consider selling 14 news stations, including WSB-TV.
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