Apollo Global may take over Cox stations

Reuters reported Sunday that Apollo Global Management LLC is close to acquiring Cox Enterprises’ 14 TV station – including Pittsburgh’s WPXI (11) – in a $3 Billion deal. This is one in a series of deals as the private equity firm enters the U.S. broadcasting business.

Meanwhile, while Cox is planning on exiting the TV sector, there is discussion to have a license marketing agreement for WSB – Cox’s flagship TV station in Atlanta – and other stations may come into play in similar agreements. The deal is still in negotiations and no formal agreement has been made.

Meanwhile, Apollo has a bid to take the stations Nexstar sheds as it purchases Tribune Media. Apollo also has an agreement to buy Northwest Broadcasting with over a dozen stations in the Pacific Northwest.