Apollo, Seeking OK for Buying Cox TV's and Joining With Northwest, Paying Cox $3.1B
Apollo Global Management’s application to buy some Cox stations (see 1902150051) would pair them with TV stations from Northwest Broadcasting under control of newly created Apollo subsidiary Terrier Media, said filings in FCC consolidated database system. Terrier is buying Northwest's…
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stations through a stock deal, and would pay $3.1 billion for the Cox stations. Terrier would end up owning 25 TV stations. The combination would create no new overlaps and reach 12.9 percent of U.S. households without the UHF discount, the filings said. “The proposed transactions have been structured to ensure there are no potential concerns about competition, localism, or diversity.” The combo would include some existing duopolies, and one existing top-four combination in the California Yuma-El Centro DMA designated market area.