Smart Media from Cox., offering media solutions to address the evolution of OTT (over-the-top media). No other digital advertising organization can offer the premium content, digital expertise and measurable performance of Gamut Smart Media. About Apollo Global Management Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. In July 2012, CMG announced its intention to sell its radio stations in smaller markets: Birmingham, Greenville, Hawaii, Louisville, Richmond, and Southern Connecticut. [13] 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). The 1980s saw Manheim acquire its first non-U.S. auction in Toronto, Canada, making Cox an international company. [4][5], Years later and at the urging of Governor Cox’s son, James M. Cox Jr., Cox entered the radio business, starting with WHIO in Dayton in 1935. [16], Gamut. [29] The offer was later raised to $4.80 a share, and the expiration was pushed to May 13. The vertical marketing tool is very helpful, for it assists us in that venue, as well as targeting customers’ competition for new sales…The comprehensive material is absolutely fabulous. 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 non-attributable interest, eliminating an ownership conflict with The Atlanta Journal-Constitution. In April 2013, CMG launched the online-only new site as a conservative media source, originally with the tagline “Red is the Center” and more recently “America’s News Feed.”[9] After initially-low audience numbers, the site expanded dramatically following more prominent use of social media and a more diverse range of stories. The company formed to purchase mid-market radio stations being divested by Cox Radio in 2013. ATLANTA, Dec 17, 2019 /PRNewswire/ -- Cox Enterprises, Inc. today announced it has completed the sale of its portfolio of television and radio stations, Ohio assets and its affiliated CoxReps and Gamut national advertising businesses to a new media company that is majority owned by private equity funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). [17][18][19], Cox Conserves is the company’s national sustainability program that focuses on alternative energy, community investment, employee engagement, energy conservation, waste diversion, recycling, and water conservation. 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. Cox Media Group, Inc. (CMG) is an American media conglomerate principally owned by Apollo Global Management in conjunction with Cox Enterprises, which maintains a 19.9% minority stake in the company. Cox Media Group is an integrated broadcasting, publishing, direct marketing and digital media company operating in more than 20 media markets and reaches approximately 52 million Americans weekly, including more than 31 million TV viewers, more than 3.5 million newspaper readers, and nearly 15 … [23] The sale was officially closed on March 2. In July 2012, CMG announced its intention to sell its radio stations in smaller markets: Birmingham, Greenville, Hawaii, Louisville, Richmond, and Southern Connecticut. [11], In October 2014, Cox Digital Solutions became Gamut. [18], 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. [15][16] Cox's other radio stations, as well as The Atlanta Journal-Constitution, were not included in the deal;[15] Cox had previously said that any deal involving the television stations would not include radio stations or newspapers. The company's major national brands include AutoTrader, Kelley Blue Book and more. [4], In 1950, Governor Cox purchased The Atlanta Constitution, and in 1962 his son purchased three cable television systems in central Pennsylvania with a total of 11,800 subscribers. [28], Cox Radio became a public company, majority owned by Cox Enterprises, in 1996. It provides us with an overall analysis of the market, key statistics, and overviews of the major players in the industry in an online service that is fast, easy to navigate, and reliable. Cox became a member of Ohio's delegation to the United States House of Representatives and then the Governor of Ohio. Cox Enterprises is c Sale pending to a third party to be determined. It also intends to spin off its smaller market television stations in El Paso, Johnstown, Reno, and Steubenville. Real people. Cox Media Group (CMG) is an industry-leading media company with dominant brands, award-winning content, and exceptional people. To learn more about Cox, visit Prior to Sinclair, he served as President and CEO of Communications Corporation of America and was special strategic advisor to DirectTV and Thomson Consumer Electronics. "We look forward to working with the teams to grow the businesses, while continuing to deliver a high quality of journalistic integrity and local news within in the communities the Company serves.". Cox Enterprises is currently led by Alexander C. Taylor, a fourth-generation Cox family member and great-grandson of founder James M. Cox. The newspaper was part of the subsidiary Cox Media Group, which joined the corporation's television, radio and newspaper assets under one umbrella in 2008. The company's operations primarily include 33 high-quality, market-leading television stations in 20 markets, 54 radio stations in 10 markets and numerous over-the-top (OTT) and digital platforms. We are sold on Cox Media; we see an increase in sales after advertising with Cox Media. Based in New York, NY, in the same building as CMG, Gamut has eight offices in the US. New York, NY 10017. ", "We are excited for our funds to acquire a majority interest in Cox Media Group and welcome the Company into our broader Apollo portfolio," said David Sambur, Co-Lead Partner of Private Equity at Apollo. [4], Over the ensuing decades, Cox made pioneering investments and became the first company to bundle telephone, highspeed internet and digital cable television over a single broadband network. Smart Media from Cox., offering media solutions to address the evolution of OTT (over-the-top media). JSTOR (October 2012) (Learn how and when to remove this template message) Cox Media Group, Inc. Additionally, the company also offers a full suite of local and regional advertising services with Local Solutions. According to its public statements, its primary focus areas include:[20][21], In September 2019, Cox Automotive's Mobility Division entered into an agreement with Rivian, the company developing the first luxury all-electric truck. The program is active in such Cox Media Group properties as Atlanta, Austin and Dayton. CMG provides valuable local content to viewers in the communities in which it serves. "Cox Enterprises Inc. Financial Statements", "Three Cox Billionaires Minted as Matriarch Gives Away Wealth", "Cox Enterprises Elects Alex Taylor and Jamie Kennedy to Board of Directors - Apr 22, 2014", "Cox Communications And Cleveland Clinic Form Alliance To Take Healthcare To The Home", "2019 DiversityINC Top 50 Companies for Diversity", "It's Official: Cox Radiom, Gamut, CoxReps Going To Apollo", "Cox Sells Broadcast Group to Apollo Global Management", "Cox Enterprises buys back Ohio newspapers; 7-day publication continues", "Cox to Sell Majority Stake in TV Stations to Apollo", "Discovery, Inc. Partners with Gamut to Bring Lifestyle Packages to OTT", "New Gamut Platform Manages Local OTT Campaigns", "Rivian Announces $350 Million Investment from Cox Automotive",, Cable television companies of the United States, Privately held companies of the United States, Telecommunications companies of the United States, Privately held companies based in Georgia (U.S. state), Telecommunications companies established in 1898, Conglomerate companies of the United States, Short description is different from Wikidata, Wikipedia articles with WorldCat identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 12 October 2020, at 02:18. I am very impressed, I have to say! "We could not have asked for a better partner than Apollo in this new phase for CMG," said Alex Taylor, president and CEO of Cox Enterprises. "[13] 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. Upon Jim Cox Jr.’s death in 1974, he left his two sisters, Anne Cox Chambers and Barbara Cox, in control of 95% of the privately-owned company. [4] Under the new structure, while the local brands remain independent, they share resources and some management. The business assets involved with the transaction include: Kim Guthrie will lead the new Cox Media Group as president and CEO, overseeing all content, sales and operations for CMG businesses. In 2019 Cox Enterprises reached an agreement with Apollo Global Management to buy a majority interest in Cox Media Group's broadcast television stations, including the company's radio, newspaper, and TV properties in Ohio, and its local OTT advertising subsidiary – Gamut. [12], 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.