“Television Is What Gets Senators Elected”: Private-Equity Mogul Leon Black Is Building a Local TV…

Speaking of acquisitions: Apollo Global Management has started buying up local TV stations ahead of the 2020 presidential election.

7th largest station group: Apollo Global Management owns stations in 29 markets reaching 11% of the U.S. population.

Why this is happening: The political ad market is growing at 2.5X the rate of advertising overall and local TV stations still hold the lions share.

Flashback: Sinclair: Political To Come ‘Hand Over Fist’ In 2020

Political ad spend by year according to Kantar CMAG:
1) 2014 — $3.0B
2) 2016 — $4.4B
3) 2018 — $5.3B

The compound annual growth rate between 2014–18:
1)
Political advertising — 15.50%
2)
All advertising — 6.25%


YoY stock growth for local station groups according to TVNewsCheck:
1)
Scripps — ↑ 75%
2)
Gray — ↑ 68%
3)
Nexstar — ↑ 63%
4)
Tegna — ↑ 24%
5)
Sinclair — ↑ 23%
6)
Tribune — ↑ 14%

More #1: Broadcasters Continue To Dominates Local News, Analog Too

More #2: Will TV Station Groups, Networks Compete For National Ad Dollars?

More #3: Why Are TV Stations Up For Sale?

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