For sale: Byron Allen, Investment Bank puts in the lead in the sale of television stations

Allen Media Group founder Byron Allen is taking steps to sell different television stations and has hired an investment firm of high quality To take the lead” The Los Angeles Times reported.

Allen, chairman and CEO of the company, called for the help of Moelis & Co. In to help with the sale of his television stations of the network connected after more than $ 1 billion to grab stores in smaller markets. In an announcement of 2 June all said that the move is due to the wish of the company to pay debts. “We have received countless questions and written offers for most of our television stations, and now it’s time to explore that this phenomenal investment returns,” all said.

“We are going to take this opportunity to take the offers seriously, and the sales proceeds will be used to significantly reduce our debt.”

With almost two dozen stations under the belt, including a few in North California; Honolulu; Flint, Michigan; Madison, Wisconsin; And Tupelo, Mississippi, the media group has spent years – and important funds – on station purchases on the largest independent television operator in the country. Various stations of all have proven their value by programming from one of the four major employment networks: ABC, CBS, NBC and Fox.

However, there has been some downfall in their efforts.

In 2024, the company Implemented various dismissals as part of its company -wide growth strategy. While redundancies took place at the Wekanaal, Entertainment Studios and the HBCU Go series, that was not the first time. All Media Group was reduced for this to ‘be more efficient’.

According to CNBC, the media company has Financially struggled for a while. It was reported that all Media Group had been late with their payments, worth tens of millions of dollars, to network owners, beyond the net expiry date of 90 days. The reasons for the late payments were unclear.

At the beginning of 2025, the company refinanced a $ 100 million debt facility. S&P Global Ratings has announced that the company must maintain a high level of liquidity in the coming 12 months, but also noted that the company will keep a junk rating, with the risk of future debt.

Financial struggles can also be attributed to the marketing challenges that television stations have experienced over the years. As media buyers move their budgets to digital platforms to meet a younger audience, the market for television advertising is tense by competing with streaming services such as Netflix, Hulu and Amazon Prime Video.

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