Byron Allen Puts His Local TV Stations Up For Sale

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Byron Allen is putting his local TV stations up for sale.

According to Allen Media Group (AMG), they have enlisted the services of Moelis & Company for the purpose of marketing their network of local television stations. This collection includes 28 stations that are affiliates of ABC, NBC, CBS, and Fox, spread across 21 different regions.

AMG is the proprietor of transit hubs in Honolulu, Hawaii; Madison, Wisconsin; Montgomery, Alabama; Flint, Michigan; and Tucson, Arizona, as well as other urban centers. The firm has announced that it intends to utilize any earnings from a potential sale to substantially lower its existing financial obligations.

Six years ago, Allen Media Group embarked on a journey of investing more than one billion dollars in acquiring television stations affiliated with the big four networks. Since then, we’ve been fielding many inquiries and making offers for these TV stations. Now is the perfect moment to consider cashing in on this substantial investment, stated Byron Allen, founder and CEO of AMG. We plan to carefully evaluate the offers that come our way, and any sale proceeds will be used to substantially pay down our debt.

Over the past year, the company has faced necessary reductions due to the swift transformation in the media sector. In February, they restructured their $100 million revolving credit line for additional time to carry out their plans effectively.

The proposed adjustments such as sales, cost reductions, and refinancing suggest numerous challenges that traditional TV networks are encountering. These difficulties stem from the impact of cord-cutting, along with a more intense competition in the advertising sector. This is because tech and entertainment giants are increasingly favoring automated ad purchasing methods. Notably, local stations also receive retransmission fees, similar to cable channels.

Lately, AMG has been more active as a purchaser instead of a vendor. Most of these acquisitions are relatively small, but they’ve mainly been concentrated in the realm of linear TV, with syndicated shows and local television stations serving as prime examples.

Allen, who initially made his mark in media as a comedian (he continues to hone his craft after appearing on The Tonight Show at 18), has transformed AMG into a consolidation platform in recent years. This transformation includes purchasing not only its network of local TV stations but also brands such as The Weather Channel and The Grio. The company also creates syndicated television programming, including courtroom and judge shows, along with Comics Unleashed, which is filling the post-Late Show timeslot on CBS.

The tycoon has never been hesitant about voicing his aspirations. In a 2020 article for The Hollywood Reporter, he openly expressed his desire to acquire CNN: “I’m at an age similar to when Rupert Murdoch arrived in America,” he stated. “He was in his 50s, I’m 59. What you see now will be magnified a hundred thousand times.

Previously, his company proposed an offer worth approximately $14 billion for Paramount Global, without revealing potential strategic partners involved in the potential acquisition.

AMG is visible through various streaming platforms such as FAST channels, The Weather Channel’s stream, and services like HBCU Go. However, it’s important to note that AMG is relatively small compared to other independent TV companies, which highlights the difficulties in transitioning from traditional television to digital media.

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2025-06-02 17:54