2019-02-11 | Exclusive: Apollo nears $3 billion deal to buy Cox TV stations - sources | Reuters
'Should Apollo prevail in that auction, it would combine the assets with the Cox TV stations, the people said. '
'Private equity firms find broadcast TV stations appealing because of the cash-rich fees the stations generate from being carried by cable operators. '
'Apollo would also be able to cut costs at Cox’s TV stations, which have been family-controlled for many years. '
'Cox and Apollo are also discussing some joint venture agreements for Cox’s broadcast station in Atlanta, where Cox is headquartered and also has radio stations, the sources said. '
'An agreement between Apollo and Cox could be announced later this week, the sources said, asking not to be identified because the matter is confidential. '
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'Should Apollo prevail in that auction, it would combine the assets with the Cox TV stations, the people said. '
'Private equity firms find broadcast TV stations appealing because of the cash-rich fees the stations generate from being carried by cable operators. '
'Apollo would also be able to cut costs at Cox’s TV stations, which have been family-controlled for many years. '
'Cox and Apollo are also discussing some joint venture agreements for Cox’s broadcast station in Atlanta, where Cox is headquartered and also has radio stations, the sources said. '
'An agreement between Apollo and Cox could be announced later this week, the sources said, asking not to be identified because the matter is confidential. '
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