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Bloomberg
3 days ago
- Business
- Bloomberg
Byron Allen Looks to Offload $1B in Local TV Stations to Manage Debt
Producer Byron Allen has hired Moelis to shop local TV stations to potential buyers in an effort to reduce debts. Bloomberg's Romaine Bostick breaks down the move and how the company is taking advantage of potential deregulation in the TV industry. (Source: Bloomberg)
Bloomberg
4 days ago
- Business
- Bloomberg
Byron Allen Hires Moelis to Shop $1 Billion in Local TV Stations
Producer and host Byron Allen has hired Moelis & Co. to find buyers for 28 local TV stations his company owns, in an effort to reduce debt while taking advantage of potential deregulation in the broadcast business. Allen, who got his start as a standup comic, owns 21 affiliate stations of major networks — ABC, CBS, NBC or Fox — in 21 markets. He spent more than $1 billion acquiring the portfolio over the past six years, according to a statement from his Allen Media Group on Monday.
