Who Owns the Media: Cox Media Group

Cox Media Group 🐔

Capitulation Rank: Vulnerable
Category: Broadcasting & Entertainment
Market Cap: Privately held

Cox Media Group has entertained the possible sale of its television stations to Gray Media or Nexstar, a deal that would require the blessing of the Trump FCC. 
Existing federal rules prohibit television-station owners from owning licensed outlets that reach more than 39 percent of the U.S. population.

Executives at these firms see a potential path to further consolidation via the FCC chairman’s promise to re-regulate the sector in ways that would usher in a so-called “golden era of dealmaking.” Many of these large broadcasters see getting on Carr’s good side as key to any future mergers and acquisitions.
 

DEI Doublespeak:

On its website, Cox Media Group shares its commitment to “amplifying diverse voices.” They also highlight “inclusion” as a core value, stating: “We respect differing perspectives and experiences and cultivate a culture of authenticity and opportunity for everyone.”   

What It Owns:

Cox Media Group is separate from Cox Communications (the cable provider). It owns 38 radio stations in eight markets. It also owns licenses to 12 broadcast-TV stations in nine markets. CMG is owned by Apollo Global, a massive private-equity fund that owns businesses across many sectors. Information-services companies include Adap.tv, Advertising.com, AOL.com, CareerBuilder.com, Engadget, HuffPost, Moviefone, Oath, StyleList.ca, TechCrunch, and Yahoo!

Money & Influence Game:

Cox paid lobbyists $2,090,000 in 2024 and made $2,406,908 in contributions to political candidates (2024 cycle). (SOURCE: Center for Responsive Politics)