SBS Wants WPYO. Why Isn’t CMG Making The Deal?


NEW YORK — As Forecast 2022 wound down and media executives gathered at the Harvard Club to socialize over cocktails for the first time in over 18 months, the Chief Executive Officer of Spanish Broadcasting System (SBS) had some big news to share.

On Friday morning, that information became public, putting Apollo Global Management and the media company it controls, Cox Media Group, on the hot seat. In short, SBS has asked the FCC to deny CMG’s request for additional time to divest two FMs in Florida — something that must be done per the terms of Apollo’s acquisition of CMG majority control.

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