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Job Cuts At Cox

Kent said:
The article also reported Byron Allen's offer was not likely to be taken seriously unless he could get an additional private equity backer.
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Byron Allen sounds like the Ted Turner of the 2020s. Reminds me of when Ted attempted to buy CBS.
 
Needless to say, the sale could stall. NYPost cites regulatory hurdles for Apollo & Byron Allen's red ink.

Byron Allen and his bidding partner Ares Management have not come up with all the money to fund their $23-a-share bid, sources said. Allen is finding it difficult to raise the preferred equity he needs, and is believed to be more than $1 billion short, sources said. Part of the difficulty is Allen Media owes debt equal to about seven times its earnings giving the Weather Channel owner little equity value, sources said.
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TheBigA said:
Add one more to the pile: Cox VP of Programming Steve Smith has resigned:

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That could very well be an Apollo budget cut. They compensated somewhat by elevating head Atlanta programmer Chris Eagan to a higher post at corporate.
 
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