“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?

The post “Television Is What Gets Senators Elected”: Private-Equity Mogul Leon Black Is Building a Local TV… appeared first on Cross Screen Media.