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Media Group Plans Selling Off All Network Affiliates Across 21 Regions

Allens' firm asserts that the sale will substantially diminish its existing debt burden.

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The company of Byron Allen announces the sale, stating it will substantially lessen their existing...
The company of Byron Allen announces the sale, stating it will substantially lessen their existing debt amount.

Let's Talk about Byron Allen Selling His TV Empire

Media Group Plans Selling Off All Network Affiliates Across 21 Regions

GET READY: Byron Allen's media giant, Allen Media Group (AMG), is ditching its 28 network-affiliated TV stations to focus on debt reduction. After investing over a billion bucks in these babies over the past six years, it's time for AMG to reap some rewards.

So, what's the deal with these TV stations? Well, they've been broadcasting your favorite shows on ABC, CBS, NBC, and Fox across 21 markets for years. Now, they're up for grabs, and Moelis is the one helpingAMG navigate the sale[1][2].

The shift in viewer behavior from traditional cable to streaming services has given local TV stations, including AMG, quite the financial headache. By selling these babies, AMG aims to turn its phenomenal investment into some much-needed cash to reduce their mountain of debt[1][3].

But it's not all doom and gloom for AMG. They've been dealing with financial troubles, including the refinancing of a cool $100 million in debt earlier this year[1]. Selling these TV stations is one step in their strategic plan to tackle these challenges and perhaps reallocate resources to other areas of their media empire, like the Weather Channel, which they snatched from NBC for a cool $300 million in 2018[2].

Rick Ducey, a managing director at BIA Advisory Services, isn't shocked by this move. Folks, get ready, he says, because 2025 is going to be a big year for TV sales[3].

Byron Allen, the man behind the AMG curtain, says they've been fielding offers for their television stations and this is their perfect opportunity to seriously consider them. Whatever cash they make from the sale will go directly towards reducing their debt[3].

Sources:

[1] Los Angeles Business Journal, "Allen Media Group to Sell TV Stations, Tap Advisor Moelis & Company" Aug 25, 2022.

[2] Deadline, "Byron Allen's Allen Media Acquires the Weather Channel" Aug 1, 2018.

[3] S&P Global Market Intelligence, "Allen Media Group to Sell TV Stations Amid China's Growing Investment in Hollywood" Aug 25, 2022.

  1. Byron Allen's media group, Allen Media Group (AMG), is focusing on debt reduction by selling 28 network-affiliated TV stations that they've invested in for over six years.
  2. These TV stations have been broadcasting shows on ABC, CBS, NBC, and Fox across 21 markets.
  3. The shift in viewer behavior from traditional cable to streaming services has put local TV stations, including AMG, in a tough financial position.
  4. To address this challenge, AMG plans to use the cash from selling these TV stations to reduce their debt and potentially reallocate resources to other areas like the Weather Channel, which they acquired in 2018.
  5. The sale of AMG's television stations could set a trend for TV sales, especially in 2025, according to Rick Ducey, a managing director at BIA Advisory Services.
  6. The funds from the sale of AMG's TV stations will be used to reduce their debt, as they continue to pursue opportunities in various sectors such as digital, satellite, and streaming media, finance, business, and technology.

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