Cox Enterprises will retain a minority in the new company substantially owned by Apollo Global Management.
To the dismay of their affiliates, CBS, Disney and Fox included in their “regulatory underbrush” wish list a request that the FCC do away with the 59-year-old network rep rule. Bad move. FCC Chairman Pai has presented broadcasting with a rare opportunity to get rid of some truly useless rules and to streamline others. The networks and the affiliates need to avoid mucking things up with an internecine fight.
In this newly created position, Trevor Heaton will oversee the political vertical across all of Katz Television Group divisions and regions. He will focus on advocating local broadcast’s unique capabilities to key political ad decision makers.
It is canceling its contracts with reps Katz Media Group and CoxReps to take the business in-house. It has hired former Katz execs Becky Meyer and Mike Jones to head the effort, which it expects will save it $8 million-$9 million next year in commission costs.