Buyback solves FCC problem on Ohio's dailies

Cox Enterprises is to buy back the Ohio daily newspapers it sold to Apollo Global Management so that they can continue seven-day a week publication.

Under a FCC technicality, daily publication of the Dayton Daily News was at risk after the Federal Communications Commission allowed Apollo to buy Cox's TV stations.

Cox Enterprises founder and Ohio governor James Cox bought the then Dayton Evening News in 1898, with Cox also owning the Springfield News-Sun and Journal-News until last December. His grandson, current chief executive and president Alex Taylor, described Dayton as "a big part of the Cox DNA".

"It's where our family is from and where our company was founded."

Cox put most of its media outlets up for sale in 2018, and when Apollo bought, FCC rules had allowed one company to own TV stations and newspapers in the same market... until last September when an appeal court ruled that the FCC's rules were invalid.

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INDUSTRY | BRIEFS
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