Apollo closes on purchase of Cox Radio/TV properties

 InsideRadio among other ‘trades’ sites, today is reporting the Apollo acquisition of the Cox Media properties has closed with the deal including 54 radio stations across 10 markets, 13 TV stations in 10 markets, 3 newspapers in Ohio, the TV rep firm CoxReps, and the Gamut national advertising business.  The new company also includes 20 TV stations in 10 markets acquired from Northwest Broadcasting.  Apollo’s purchase began last spring with a $3.1 billion price tag to buy a majority interest in CMG’s television stations, including the company’s radio, newspaper and TV properties in Dayton, OH. The 14-station TV group includes stations in Atlanta, Orlando, Charlotte, Pittsburgh, Dayton, Seattle, Memphis, Jacksonville, Boston and Tulsa.  That was followed in June by a $500 million agreement to buy 50 radio stations from Cox across 11 markets, including Atlanta, Miami, Houston, Tampa, Jacksonville, San Antonio, Tulsa, and Nassau-Suffolk, NY. The second deal also includes CoxReps and Cox’s Washington, D.C. news bureau operations.  Locally, that means a change in ownership of KIRO-TV.  The new company, which will continue to operate under the name Cox Media & remain headquartered in Atlanta, will have to spin off a few FM stations to comply with the FCC’s ownership rules.