Apollo Global Management LLC APO, -0.60% is close to a $3 billion deal to buy 14 regional TV stations from Cox Enterprises Inc., Reuters reported Sunday night. The purchase may be announced this week, though sources told Reuters it was not yet a done deal. Cox would be the latest regional TV target of the private equity firm, after a bid to buy stations from Nexstar Media Group and a deal to buy the assets of Northwest Broadcasting. The 14 Cox stations are in nine states and reach more than 31 million viewers, Reuters said.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
Source: Read Full Article