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Exclusive: Apollo approaches TV stations owner Nexstar about acquisition - sources


By Pamela Barbaglia and Greg Roumeliotis(Reuters) - Buyout firm Apollo Global Management LLC has approached Nexstar Media Group Inc, an operator of television stations that reach nearly 40 percent of U.S. households, to express interest in acquiring it, according to people familiar with the matter. The approach comes a year after Nexstar's $2.3 billion acquisition of peer Media General Inc turned it into one of the largest U.S. broadcasters. Nexstar wants to add scale as advertisers move their spending to digital and mobile platforms. Apollo has teamed up with P2 Capital Partners LLC, another ...

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First Published: Wed, July 11 2018. 21:01 IST