Byron Allen Makes $10B Bid to Buy ABC Networks

[Elim Garak]

Power moves would be him building from the ground up rather than buying into someone else's creation.
He's moving like a Jew..not that he's isn't a serious businessman but it's unusual for a Black man to buy in rather than build his own vision.

Bullshyt you can make power moves from accusations. He started by building from the ground up and now he's expanding by making acquisitions. Building from the ground up and making power moves aren't mutually exclusive lol.

 

[3rdWorld]

Byron Allen's Allen Media Group Inks A 10-Year Deal With HBCU Sports Streaming Platform And CIAA - AfroTech

Byron Allen’s entertainment company has joined forces with a leading media provider for Historically Black Colleges and Universities (HBCUs).

afrotech.com

 

[Rev]

 

[Tribal Outkast]

Yeah his company is looking crazy out here. Good luck to him though I guess

 

[☑︎#VoteDemocrat]

Yeah his company is looking crazy out here. Good luck to him though I guess

https://www.cnbc.com/2025/06/02/byron-allen-broadcast-tv-stations-sale.html?taid=683dc2511dc732000173c9a0&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter

Byron Allen puts broadcast TV stations up for sale
Summarize
Lillian Rizzo
Byron Allen, founder, chairman, and CEO of Entertainment Studios and Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
Byron Allen is putting his broadcast TV stations up for sale.

Allen Media Group said on Monday it has retained investment bank Moelis & Co. to sell its group of 28 owned and operated broadcast TV stations, which are affiliated with ABC, NBC, CBS and Fox in 21 markets across the U.S.

In a news release, Allen said the company has invested over $1 billion into acquiring the stations over the past six years and after receiving “numerous inquiries and written offers” for most of the stations, has decided to explore a sale.

The Allen Media Group stations join others that have recently hit the sale block. Last year, CNBC reported that Sinclair was exploring the sale of more than 30% of its stations. Apollo Global Management is also reportedly exploring a sale of its Cox Media Group portfolio of TV and radio stations.

Allen Media Group said a sale of the stations would significantly reduce its debt load. Earlier this year the company refinanced a $100 million debt facility. While S&P Global Ratings said it expected the company to maintain sufficient liquidity over the next 12 months, it noted that Allen Media Group still maintained a junk rating and faced future debt risks.

Last year CNBC reported that Allen Media Group had been consistently late in making payments to its network owners, in some cases as much as 90 days past due, with the payments totaling tens of millions of dollars throughout the year. The reason for the lateness had been unclear, and representatives for Allen Media Group declined to address the details of CNBC’s reporting.

The stations have also reportedly undergone layoffs.

Allen, a former comedian, founded Entertainment Studios, now known as Allen Media Group, in the early 1990s. He later formed Allen Media Group Broadcasting in 2019 and has built up his profile and business ever since with a string of smaller deals.

He’s also become known for expressing interest in buying various media assets to bulk up his media empire. In recent years he’s made a $30 billion bid for Paramount Global when it was up for sale in 2024 as well as a $10 billion offer for ABC and other Disney networks, and he reportedly offered $3.5 billion for Paramount’s BET Media Group.

Disclosure: Comcast’s NBCUniversal is the parent company of CNBC and broadcast network NBC.

 

[Tribal Outkast]

https://www.cnbc.com/2025/06/02/byron-allen-broadcast-tv-stations-sale.html?taid=683dc2511dc732000173c9a0&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter

Byron Allen puts broadcast TV stations up for sale
Summarize
Lillian Rizzo
Byron Allen, founder, chairman, and CEO of Entertainment Studios and Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
Byron Allen is putting his broadcast TV stations up for sale.

Allen Media Group said on Monday it has retained investment bank Moelis & Co. to sell its group of 28 owned and operated broadcast TV stations, which are affiliated with ABC, NBC, CBS and Fox in 21 markets across the U.S.

In a news release, Allen said the company has invested over $1 billion into acquiring the stations over the past six years and after receiving “numerous inquiries and written offers” for most of the stations, has decided to explore a sale.

The Allen Media Group stations join others that have recently hit the sale block. Last year, CNBC reported that Sinclair was exploring the sale of more than 30% of its stations. Apollo Global Management is also reportedly exploring a sale of its Cox Media Group portfolio of TV and radio stations.

Allen Media Group said a sale of the stations would significantly reduce its debt load. Earlier this year the company refinanced a $100 million debt facility. While S&P Global Ratings said it expected the company to maintain sufficient liquidity over the next 12 months, it noted that Allen Media Group still maintained a junk rating and faced future debt risks.

Last year CNBC reported that Allen Media Group had been consistently late in making payments to its network owners, in some cases as much as 90 days past due, with the payments totaling tens of millions of dollars throughout the year. The reason for the lateness had been unclear, and representatives for Allen Media Group declined to address the details of CNBC’s reporting.

The stations have also reportedly undergone layoffs.

Allen, a former comedian, founded Entertainment Studios, now known as Allen Media Group, in the early 1990s. He later formed Allen Media Group Broadcasting in 2019 and has built up his profile and business ever since with a string of smaller deals.

He’s also become known for expressing interest in buying various media assets to bulk up his media empire. In recent years he’s made a $30 billion bid for Paramount Global when it was up for sale in 2024 as well as a $10 billion offer for ABC and other Disney networks, and he reportedly offered $3.5 billion for Paramount’s BET Media Group.

Disclosure: Comcast’s NBCUniversal is the parent company of CNBC and broadcast network NBC.

Wonder who will buy.

 

[Belize King]

He who controls the local news controls…

A big “Christian” news conglomerate bought a bunch of stations a few years back. Feds let it happen. Imagine the shyt they are pumping to all the local stations.

They helped get Trump elected with their slant on local “unbiased” news.

Allen will easily find buyers for this stations. Might get bought by RT through pass through companies.

 

[Strapped]

I don't know if yt America is ready for a black man to own such an iconic piece of prime network television . It would be refreshing to end the fake news & propaganda

 

[Tribal Outkast]

He who controls the local news controls…

A big “Christian” news conglomerate bought a bunch of stations a few years back. Feds let it happen. Imagine the shyt they are pumping to all the local stations.

They helped get Trump elected with their slant on local “unbiased” news.

Allen will easily find buyers for this stations. Might get bought by RT through pass through companies.

If Nexstar don’t buy any then I’m afraid you’re right. A lot of these companies are folding. There aren’t too many left that can buy. I really hope you’re wrong btw