CMG Spins Ohio Papers To Cox
• Cox Media Group (CMG) reached an agreement to spin off its Ohio newspapers, TheDayton Daily News, The Springfield News-Sun, and The JournalNews to Cox Enterprises (CEI).
The sale follows a recent federal court decision that reinstated an old FCC rule that prohibits a single owner from operating both a daily newspaper and a broadcast station in the same market. To comply with that rule, CMG, which is now majority-owned by affiliates of Apollo Global Management, Inc., faced cutting the papers to non-daily publications or selling them to an owner that would not be encumbered by the antiquated cross-ownership rule, and this transaction ensures they can continue providing uninterrupted news coverage to their readers.
“These newspapers are important assets to the communities they serve, and we are thrilled to have found a partner with a long and successful history of promoting freedom of the press and preserving print journalism,” said CMG CEO Kim Guthrie. “CEI shares our belief that a reduced print schedule would negatively impact the papers, our employees and the communities. CEI is the best possible partner for this sale to not only ensure continued daily print publication for the newspapers, but to also keep so many talented people doing what they do best—providing daily news coverage in our Ohio communities.”
Rob Rohr will remain as VP/GM of CMG’s WHIO-TV and three Dayton radio stations — WHIO, WHKO and WZLR. Following the sale, the Ohio papers will be under the interim operational leadership of Jana Collier, who currently serves as VP of Content at CMG Ohio. The sale of the papers to CEI is expected to close in the coming weeks.
