Apollo nears $3 bn deal to buy Cox Enterprises' 14 regional TV stations

Cox and Apollo are also discussing some joint venture agreements for Cox's broadcast station in Atlanta

Apollo Global Management LLC is nearing a roughly $3 billion agreement to acquire Cox Enterprises Inc's 14 regional TV stations, the biggest in a series of deals the private equity firm is lining up to become a force in US broadcasting, people familiar with the matter said on Sunday.

Cox, a privately held media conglomerate whose holdings span automotive websites, newspapers and cable TV, has been seeking to exit the regional TV sector, which is going through a wave of consolidation. Operators are looking for scale to counter the rise of online streaming and the shift of advertising dollars to the