Allen Media Group Seeks Sale of 28 TV Stations

Byron Allen's Allen Media Group (AMG) has put its 28 local television stations, affiliated with ABC, NBC, CBS, and FOX across 21 U.S. markets, up for sale and hired Moelis & Company to manage the process. The sale is intended to significantly reduce AMG's debt after investing more than $1 billion in acquisitions over the past six years, establishing AMG as a major independent owner of network affiliates. Allen cited receiving numerous inquiries and offers as a key factor in the timing of the sale. The decision also comes as the industry faces challenges from cord-cutting, increased advertising competition, and upcoming changes in broadcast standards, including the transition away from ATSC 1.0 digital transmission. This move highlights ongoing consolidation and strategic repositioning within the linear TV sector as companies adapt to a rapidly changing media environment. AMG continues to operate other media platforms alongside its linear TV business.