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Private equity is diving into radio again head first

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Private equity is diving into radio again head first

Post by MWmetalhead » Mon Jul 01, 2019 4:14 pm

First, we learned last winter that Apollo Global Management was acquiring a majority stake in Cox Communications' TV station group.

Last week, we learned that Apollo is acquiring Cox's impressive radio station group as well.

Now comes word that Standard General - the same firm previously interested in acquiring TV stations spun-off from the failed Tribune - Sinclair transaction - is purchasing Hot 97 and 107.5 WBLS in New York City.

Emmis Communications founder Jeff Smulyan - who for some unknown reason is still well regarded in broadcast/media circles - will become CEO of the operating subsidiary Standard General is forming to hold Hot 97 and 1075. WBLS.

Standard General states it will seek to grow Mediaco aggressively, and it appears an IPO - or a merger with Emmis to take advantage of its existing publicly traded status - is in the works. ... ment-25884

Might this be the company that acquires what's left of Cumulus - or at least a significant chunk of Cumulus?

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