Allen Media Group Retains Moelis for Television Station Sale

Byron Allen's Allen Media Group (AMG) has engaged Moelis & Company LLC, an independent investment bank, to aid in selling its group of television stations affiliated with major networks like ABC, NBC, CBS, and FOX across 21 U.S. markets. This strategic move aims to maximize asset value and reduce company debt by evaluating financial alternatives. Over the past six years, AMG invested over $1 billion in acquiring these stations and is now considering proposals from potential buyers to achieve a substantial return on investment. The sale reflects AMG's strategy to leverage asset divestment to improve its financial structure. Founded in 1993, AMG is a major independent entity, owning 28 network-affiliated stations and ten 24-hour HD networks serving millions. Moelis & Company will provide strategic advice on this transaction, leveraging its global expertise in diverse industry sectors to assist AMG in achieving its financial and strategic goals.