July 11, 2018 / 2:10 PM / a year ago

Exclusive - Apollo approaches Nexstar about possible acquisition, sources say

(Reuters) - Buyout firm Apollo Global Management LLC (APO.N) has approached Nexstar Media Group Inc (NXST.O), an operator of TV stations reaching close to 40 percent of U.S. households, to express interest in acquiring it, according to people familiar with the matter.

Apollo has teamed up with P2 Capital Partners LLC, another investment firm that already owns a small stake in Nexstar, the sources said this week. Nexstar has not yet engaged in sale talks and there is no certainty it will entertain an offer, the sources added.

The sources asked not to be identified because the deliberations are confidential. Apollo declined to comment while Nexstar and P2 did not immediately respond to requests for comment.

Reporting by Pamela Barbaglia in London and Greg Roumeliotis in New York; Additional reporting by Liana B. Baker in New York; Editing by Jeffrey Benkoe

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