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Rumored Apollo Management Buyout of Cox TV: What Does It Mean?

RadioPatrol said:
https://www.bloomberg.com/news/arti...be-nearing-deal-for-group-of-nexstar-stations

And now Apollo is being named as a Candidate to get the divested Nexstar Stations.
Click to expand...

Since that Bloomberg piece, it's been reported Apollo now has a deal with Nexstar. They also have a deal with Northwest Broadcasting for several small market TV stations.

The main reason cited by Cox for selling their TV stations was the group was too small to have the clout needed to negotiate syndicated programming. Apollo is well aware of this and has been taking steps to become a big player in TV. Apollo also knows that by becoming big in TV, the company can raise retransmission fees, which is now a major profit center in TV.
 
RoddyFreeman said:
The main reason cited by Cox for selling their TV stations was the group was too small to have the clout needed to negotiate syndicated programming.
Click to expand...

I think the same problem exists in radio, but for a different reason. The size of the platform matters because advertisers buy numbers, and the internet has pushed radio towards more of a national business than it had been previously. Sure one can do a fine business being a big fish in a small pond, and Cox has proven that in Atlanta. But the major advertisers today are national chains, and they want their spots to air everywhere, not just in Atlanta. That's what Journal realized, that's what Scripps realized, and that's what Cox has realized.
 
TheBigA said:
I think the same problem exists in radio, but for a different reason. The size of the platform matters because advertisers buy numbers, and the internet has pushed radio towards more of a national business than it had been previously. Sure one can do a fine business being a big fish in a small pond, and Cox has proven that in Atlanta. But the major advertisers today are national chains, and they want their spots to air everywhere, not just in Atlanta. That's what Journal realized, that's what Scripps realized, and that's what Cox has realized.
Click to expand...

When the sale was announced, I received an email from my WSB-TV salesperson regarding how well the sale looked for the station's employees.

Since then I've spoken with people at the station, and they are feeling some uncertainty. The press release announced the Cox management structure will be maintained. But Apollo has not announced whether all or some of the same managers (and others) will be retained.

Things might turn out great, but no one at the station level knows for sure at this point.
 
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