End of month deadline for potential Cox buyers

January 10, 2019 Off By Eric O'Brien

CNBC reports TEGNA, Hearst, and EW Scripps are the likely candidates to submit final bids for Cox Media Group’s 14 stations by the end of January. The purchase price is said to be $2-3 billion. Nexstar bowed out of contention after announcing their intent to buy Tribune.

Cox has owned WPXI-TV (11) since 1964. Hearst has owned WTAE-TV (4) since its inception and would likely spin off WPXI if their bid was accepted.

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2 Comments

  • Mark says:
    January 11, 2019 at 10:58 am

    Tegna would have to divest in Atlanta as they already own WXIA/11 and WATL/36. Could Hearst own 2 full-power network affiliates in a major market like Pittsburgh?

    • Eric says:
      January 11, 2019 at 2:53 pm

      Realistically, not of those station’s caliber nor market share. But I suppose they could form a subsidiary.

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