Apollo Global Management’s Acquisition Of Cox Radio, CoxReps and Gamut Businesses


Paul, Weiss advised funds managed by affiliates of Apollo Global Management, LLC in their acquisition of the Cox Media Group’s radio station portfolio, as well as the CoxReps and Gamut national advertising businesses of Cox Enterprises, Inc., through a new broadcasting company.

Financial terms of the transaction were not disclosed. Cox Media Group operates more than 60 radio stations across 11 markets, reaching 14 million listeners monthly. CoxReps is the country’s largest national television rep company for local broadcast television. Gamut offers market leading, customized and localized digital advertising and OTT solutions to clients on a national scale. The transaction will expand the new broadcasting company, which announced in February its purchase of Cox Media Group’s broadcast television group and the company’s radio, newspaper and television properties in Ohio.

RBC Capital Markets LLC, Guggenheim Securities, LLC and LionTree Advisors, LLC served as the financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cooley LLP served as the legal advisors to the buyer in this transaction.

The Paul, Weiss team includes M&A partners Taurie Zeitzer (Picture) and Brian Scrivani and counsel Lisa Koff; securities partner Brian Janson; finance partners Gregory Ezring and Mark Wlazlo; employee benefits partner Andrew Gaines; intellectual property partners Chuck Googe; tax partner Brad Okun; real estate partner Mitchell Berg; investment funds partner Matthew Goldstein; litigation partner Lewis Clayton and counsel Daniel Mason; and entertainment counsel Carolyn Casselman.

Involved fees earner: Mitchell Berg – Paul Weiss Rifkind Wharton & Garrison; Carolyn Casselman – Paul Weiss Rifkind Wharton & Garrison; Lewis Clayton – Paul Weiss Rifkind Wharton & Garrison; Gregory Ezring – Paul Weiss Rifkind Wharton & Garrison; Andrew Gaines – Paul Weiss Rifkind Wharton & Garrison; Matthew Goldstein – Paul Weiss Rifkind Wharton & Garrison; Chuck Googe – Paul Weiss Rifkind Wharton & Garrison; Brian Janson – Paul Weiss Rifkind Wharton & Garrison; Lisa Koff – Paul Weiss Rifkind Wharton & Garrison; Daniel Mason – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Brian Scrivani – Paul Weiss Rifkind Wharton & Garrison; Mark Wlazlo – Paul Weiss Rifkind Wharton & Garrison; Taurie Zeitzer – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Apollo Global Management;

Author: Ambrogio Visconti