Byron Allen is looking to sell his group of broadcast TV stations, in a bid to reduce his company’s debt load. Allen Media Group owns and operates 28 broadcast TV stations in 21 markets, which are affiliated with ABC, NBC, CBS and Fox. In a release Monday, Allen said the company has already received numerous inquiries and written offers for most of the stations. Byron Allen, founder, chairman and CEO of Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | Afp | Getty Images
Byron Allen is putting his broadcast TV stations up for sale.
Allen Media Group said on Monday it has retained investment bank Moelis & Co. to sell its group of 28 owned and operated broadcast TV stations, which are affiliated with ABC, NBC, CBS and Fox in 21 markets across the U.S.
In a news release, Allen said the company has invested more than $1 billion into acquiring the stations over the past six years and after receiving “numerous