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Layoffs Underway At Byron Allen’s Allen Media Group
Byron Allen's Allen Media Group confirmed it is undergoing layoffs as part of strategic changes at the media company.
“Allen Media Group’s brands continue to perform well and in many areas our revenue growth has greatly outpaced the market,” today’s statement said. The number of layoffs was not disclosed, but Allen is joining the list of media companies cutting staff as cord-cutting keeps accelerating in the TV biz. Allen has been looking to land more big fish via acquisition, most recently going public with a $30 billion offer(including equity and outstanding debt) for Paramount Global with interest in keeping the broadcast assets, linear networks and potentially Paramount+.
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