Cox Enterprises on Friday announced a deal to sell a majority stake in its portfolio of 14 television stations, including Seattle CBS affiliate KIRO-TV, to an international investment firm. The TV properties will become part of a new media company headquartered in Atlanta.
Investment funds affiliated with Apollo Global Management will hold the controlling interest in the Cox Media Group television properties, as well as Cox’s newspapers and radio stations in Ohio. Cox, a privately held broadband, automotive services and media company based in Sandy Springs, Georgia, will remain a minority owner of the new company. SEATTLE TIMES