01:48 PM EDT, 03/21/2025 (MT Newswires) -- (Updates with additional details in the third and fourth paragraph.)

Apollo Global (APO) is exploring a potential sale of Cox Media Group, Bloomberg reported Friday, citing sources familiar with the matter.

The potential deal could value Cox Media at about $4 billion, with Apollo preferring a buyer that would take on most of the assets instead of splitting them up, the media outlet reported.

The asset management firm is reportedly considering selling its broadcast television and radio business, which includes its portfolio of local broadcast television and radio stations from Atlanta to Seattle.

Apollo has hired Moelis & Co. ( MC ) to handle the possible sale, although there is no guarantee a transaction will occur, Bloomberg reported.

Among the potential buyers are Nexstar Media ( NXST ) and Gray Media ( GTN ) , the report said, citing some of the sources.

Apollo Global, Nexstar, Gray and Moelis & Co ( MC ) did not immediately respond to requests for a comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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