• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Investing

Byron Allen puts broadcast TV stations up for sale

by June 3, 2025
written by June 3, 2025

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 inquiries and written offers” for most of the stations, has decided to explore a sale.

The Allen Media Group stations join others that have recently hit the sale block. Last year, CNBC reported that Sinclair was exploring the sale of more than 30% of its stations. Apollo Global Management is also reportedly exploring a sale of its Cox Media Group portfolio of TV and radio stations.

Allen Media Group said a sale of the stations would significantly reduce its debt load. Earlier this year, the company refinanced a $100 million debt facility. While S&P Global Ratings said it expected the company to maintain sufficient liquidity over the next 12 months, it noted that Allen Media Group still maintained a junk rating and faced future debt risks.

Last year, CNBC reported that Allen Media Group had been consistently late in making payments to its network owners, in some cases as much as 90 days past due, with the payments totaling tens of millions of dollars throughout the year. The reason for the lateness had been unclear, and representatives for Allen Media Group declined to address the details of CNBC’s reporting.

The stations have also reportedly undergone layoffs.

Allen, a former comedian, founded Entertainment Studios, now known as Allen Media Group, in the early 1990s. He later formed Allen Media Group Broadcasting in 2019 and has built up his profile and business ever since with a string of smaller deals.

He has also become known for expressing interest in buying various media assets to bulk up his media empire. In recent years, he has made a $30 billion bid for Paramount Global when it was up for sale in 2024, as well as a $10 billion offer for ABC and other Disney networks, and he reportedly offered $3.5 billion for Paramount’s BET Media Group.

Disclosure: Comcast’s NBCUniversal is the parent company of CNBC and broadcast network NBC.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
U.S. foreign tax bill sends jitters across Wall Street
next post
Elon Musk’s Neuralink raises $650 million in fresh capital

You may also like

Bed Bath & Beyond relaunches with first store...

August 9, 2025

Lawsuit accuses Apple of stealing trade secrets to...

August 9, 2025

Trump demands resignation of Intel CEO over alleged...

August 7, 2025

Claire’s, known for piercing millions of teens’ ears,...

August 7, 2025

Tim Cook to join Trump at White House...

August 7, 2025

Fox One streaming service to launch ahead of...

August 6, 2025

Murdoch to provide Trump health updates in deal...

August 6, 2025

U.S. farm agency allows six more states to...

August 5, 2025

Amazon lays off over 100 employees in Wondery...

August 5, 2025

All major Las Vegas Strip casinos are now...

August 5, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 9, 2025
    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

      August 9, 2025
    • Trump demands resignation of Intel CEO over alleged China ties

      August 7, 2025
    • Claire’s, known for piercing millions of teens’ ears, files for Chapter 11

      August 7, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (592)
    • Stock (6,426)

    Latest News

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more
    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

    Popular News

    • Australian banks brace for lower earnings as costs, competition bite
    • UK’s Domino’s Pizza Q3 sales rise on delivery orders and offers

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy