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Allen Media Group Hires Investment Bank To Explore Sale Of TV Stations, Evaluate “Strategic Alternatives”
Byron Allen’s Allen Media Group hired investment bank Moelis & Co. to sell its television stations across 21 markets as it explores strategic alternatives.
The company has invested over $1 billion in acquiring the stations over the last six years growing to become one of the largest independent privately held owners of Big 4 (ABC, NBC, CBS, FOX) network affiliates. “Six years ago, Allen Media Group began the process of investing over one billion dollars to acquire big four network-affiliated television stations. We have received numerous inquiries and written offers for most of our television stations and now is the time to explore getting a return on this phenomenal investment,” said Byron Allen, founder and chairman- CEO of Allen Media Group.
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