Investing.com -- Apollo Global Management (NYSE: APO ) Inc., the New York-based alternative asset manager, is reportedly considering the sale of Cox Media Group, a portfolio of local broadcast television and radio stations spanning from Atlanta to Seattle. The firm has engaged Moelis & Co (NYSE: MC ). to assist in exploring potential sale opportunities, according to Bloomberg, citing individuals familiar with the matter.

The sale of Cox Media Group could potentially value the company at around $4 billion. Apollo Global Management, which managed $70 billion of private equity assets as of December 31, is said to prefer a buyer that can take on most of the company instead of dividing the assets among multiple parties. However, there is no certainty that these deliberations will result in a transaction, as per the sources.

Potential buyers for some or all of the TV stations include Nexstar Media Group (NASDAQ: NXST ) Inc. and Gray Media Inc.

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