Cox Media Group
CMG Media Corporation (doing business as Cox Media Group) is an American media conglomerate principally owned by Apollo Global Management in conjunction with Cox Enterprises, which maintains a 29% minority stake in the company. The company primarily owns radio and television stations—many of which are located in the South, Pacific Northwest, Eastern Midwest, and Northeast, and the regional cable news network Pittsburgh Cable News Channel (PCNC). Originally founded in December 2008 by Cox Enterprises through a consolidation of its existing publishing and broadcasting subsidiaries, the current incarnation of Cox Media Group was formed on December 17 , 2019, through the acquisition by Apollo of the original Cox Media Group (along with Cox Enterprises’ advertising subsidiary, Gamut) from Cox Enterprises, which transferred a controlling interest in the company to Apollo, and Northwest Broadcasting from Brian Brady. History. In December 2008, Cox Enterprises created Cox Media Group (CMG) by merging Cox Newspapers, Cox Radio, and Cox Television into one integrated digital media company. The creation of Cox Media Group was a departure from grouping subsidiaries based solely on publishing medium. In August 2009, Cox Enterprises realigned its radio, television, newspaper/publishing, and digital assets into the same division. Under  the new structure, while the local brands remain independent, they share resources and some management. Dayton, Ohio, was considered the prototype for the media group, where radio, television, newspaper, and direct mail were all in the same market, and were combined into a new building. In other markets where the facilities are not as close together, they do share some senior management; for example, Houston and San Antonio Radio and the "Austin American-Statesman" newspaper all fall under the same regional vice president. In addition to the radio/TV stations and newspapers, Cox Media Group encompasses Cox Digital Solutions (digital  sales for both Cox and non-Cox online and mobile properties), Cox Reps (national TV sales for station groups such as Gray and Gannett), Kudzu.com, Savings.com, and Valpak direct mail. CMG introduced a new group-buying discount program called DealSwarm in October 2010. DealSwarm provides online discounts at local businesses. The program is active in such Cox Media Group properties as Atlanta, Austin and Dayton. In July 2012, CMG announced its intention to sell its radio stations in smaller markets: Birmingham, Greenville, Hawaii, Louisville, Richmond, and Southern Connecticut. It also intends to spin off its smaller-market television stations in  El Paso, Johnstown, Reno, and Steubenville. The company said it intended to focus on larger markets or smaller markets that could be clustered together with other CMG properties. In April 2013, CMG launched the online-only new site "Rare.us" as a conservative media source, originally with the tagline "Red is the Center", and more recently "America’s News Feed". After initially-low audience numbers, the site expanded dramatically following more prominent use of social media and a more diverse range of stories. On February 12, 2013, CMG announced the sale of the Birmingham, Greenville, Hawaii, Louisville, and Richmond radio stations  to SummitMedia, and the southern Connecticut stations to Connoisseur Media; two weeks later, on February 25, the company announced the sale of the four television stations (and the local marketing agreement for a fifth) to Sinclair Broadcast Group. In October 2014, Cox Digital Solutions became Gamut. Smart Media from Cox., offering media solutions to address the evolution of over-the-top media services (OTT). With this transition, CMG will cover linear television and radio, and Gamut will focus on OTT/CTV. Sale of majority stake to Apollo Global Management. On July 24, 2018, Cox Enterprises announced that it was "exploring  strategic options" for Cox Media Group's television stations, which the company said could involve "partnering or merging these stations into a larger TV company." Cox Media Group's president, Kim Guthrie, subsequently clarified to trade publication "Radio & Television Business Report" that the company was solely seeking "a merger or partnership" and not an outright sale of the television stations. On February 15, 2019, Cox announced that Apollo Global Management would acquire a majority interest in the CMG television stations, as well as the Dayton radio stations and Ohio newspapers (whose operations are integrated with WHIO-TV), forming a new  company that retains Cox Media Group's management and operating structure; Cox Enterprises holds a minority stake in this company. Cox's other radio stations, as well as "The Atlanta Journal-Constitution", were not included in the deal; Cox had previously said that any deal involving the television stations would not include radio stations or newspapers. In March 2019 filings with the Federal Communications Commission (FCC), Apollo disclosed that the new company, tentatively named Terrier Media, would purchase the Cox stations for $3.1 billion (reduced by the value of Cox's equity stake in Terrier). On March 18, 2019 , the "Atlanta Business Chronicle" reported that Cox Enterprises was "exploring options" for its radio stations. "The Atlanta Journal-Constitution" would not be included in any potential deal for the stations. On June 26, 2019, Cox announced that the radio stations, as well as national advertising business – CoxReps, and local OTT advertising agency - Gamut, would also be acquired by the Apollo Global Management-backed company, which concurrently announced that it would retain the Cox Media Group name instead of Terrier Media. As they would no longer be grandfathered, the new company must divest a radio station each in the Orlando and  Tampa Bay markets. Both acquisitions, along with Apollo's concurrent $384 million acquisition of Northwest Broadcasting, were approved by the FCC on November 22, 2019, under conditions imposed after a federal court blocked changes to several FCC ownership policies. To comply with regulations prohibiting the cross-ownership of broadcast stations and daily newspapers (which the FCC had sought to repeal), CMG agreed to cut publication of its Ohio newspapers to three days a week within 30 days of the deal's completion; Cox Enterprises also reduced its stake in CMG to a nonattributable interest, eliminating an ownership conflict with  The Atlanta Journal-Constitution. CMG was also required to surrender the licenses to two of Northwest Broadcasting's stations, in Yuma, Arizona, and Syracuse, New York, where Northwest's existing duopolies did not comply with reinstated provisions of the FCC's duopoly rule. Cox announced the closing of the acquisition on December 17, 2019. On February 10, 2020, Cox Enterprises announced it would repurchase the "Dayton Daily News", "Journal-News", and "Springfield News-Sun" from CMG, once again owning a 100% interest in the newspapers; the sale, which reunited the papers with "The Atlanta Journal-Constitution" in Cox Enterprises' newspaper  holdings, allowed them to continue daily publication despite the court ruling. The sale was officially closed on March 2. On February 22, 2022, a partnership of Standard General and Apollo announced their intent to acquire Tegna; Apollo will hold non-voting shares in the company. As part of the sale, Standard General will sell Standard Media's WDKA, WLNE, KBSI, and KLKN to CMG, and CMG will also acquire Tegna's stations in Dallas–Fort Worth, Houston, and Austin (including WFAA, KHOU, and KVUE). WFXT will be divested to an affiliate of Standard General. On March 30, 2022, Cox Media  Group announced that it would sell 18 stations, namely KLAX in Alexandria, WICZ in Binghamton, KIEM and KVIQ-LD in Eureka, WABG, WNBD and WXVT in Greenwood, KPVI in Idaho Falls, KMVU and KFBI-LD in Medford, WHBQ in Memphis, KAYU in Spokane, WSYT in Syracuse, KOKI and KMYT in Tulsa, KCYU-LD and KFFX in Yakima and KYMA in Yuma to Imagicomm Communications—owner of the cable network INSP—for an undisclosed amount. Cox Radio. Cox Media Group owns, operates or provides sales and marketing services to 57 stations in 20 markets. This radio portfolio includes 15 AM stations  and 71 FM stations. Cox Radio became a public company, majority owned by Cox Enterprises, in 1996. Around April 2009, Cox Enterprises proposed a US$69-million takeover offer of Cox Radio. The offer expired on May 1, 2009. The offer was later raised to $4.80 a share, and the expiration was pushed to May 13. The offer was accepted, and the acquisition was completed on June 1. Cox Radio-owned radio stations. Note: Cox Television. Cox Television-owned television stations. Stations are listed in alphabetical order by state and city of license. "Note:" Current. Notes: Former. Notes: Subsidiaries . Gamut. Gamut is a Cox Media Group company that specializes in local over-the-top (OTT) video advertising solutions, whereas Cox Media Group focuses on linear television and radio. Headquartered in New York, New York, Gamut has eight offices in the US. Gamut's core product, Gamut TOTAL, places OTT advertising campaigns directly through publishers' ad servers, including Discovery Inc.’s networks. Former assets. The following outlets were at one time owned by subsidiary Cox Newspapers Inc. or CMG: