Cox Media Group sale of television stations to Imagicomm Communications
Davis Polk is advising Cox Media Group on the sale of CMG television stations in 12 markets to Imagicomm Communications, an affiliate of INSP, LLC. The transactions are subject to customary closing conditions and are expected to close in the second half of 2022. Financial terms of the transactions were not disclosed.
CMG is an industry-leading media company with unparalleled brands, award-winning content, and exceptional people. CMG provides valuable local content to viewers in the communities in which it serves. INSP is a 24-hour-a-day general entertainment cable network that provides a trusted viewing experience with a lineup of exclusive and original series, timeless Westerns, action-filled dramas and films focused on adventure and heroic characters. Imagicomm Communications is an affiliate of INSP responsible for the ownership and management of broadcast-related functions for the organization, including content distribution in the broadcast environment, station ownership, oversight and development.
The Davis Polk corporate team includes partner Marc O. Williams, associates Michael Senders and Justin Peroff. Associate Michael Fan is providing finance advice. Partner Corey M. Goodman is providing tax advice. The real estate team includes partner Brian D. Hirsch and associate Gregory D. Crane. The executive compensation team includes partner Adam Kaminsky and associate Joseph S. Brown. Counsel Michael Comstock is providing environmental advice. Members of the Davis Polk team are based in the New York and Washington DC offices.