A New Player For Radio


Wednesday afternoon, Cox Enterprises announced it was selling Cox Media Group’s Radio station portfolio to a new broadcasting company that is substantially owned by private equity funds managed by affiliates of Apollo Global Management.

In February, Apollo announced it was purchasing Cox Media Group’s broadcast television group and the company’s radio, newspaper, and television properties in Ohio.

Cox Enterprises will maintain a minority stake in the new company, which will maintain the name Cox Media Group and will be headquartered in Atlanta.

Cox Media Group operates more than 60 radio stations across 11 markets.


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