Not Many Didn't See This One Coming

Yesterday, news was “breaking” that Allen Media was putting their stations up for sale.

Outlets reported that Allen Media hired the investment bank Moelis to help sell their stations.

Back on September 19, 2024, FTVLive told you that AMG was using Moelis. We have also been telling you for months that you could look for Allen Media to offer up their stations for sale.

When Byron Allen started gutting the stations it was clear to most that he was setting the AMG stations up to be sold.

Allen admitted that the company is swimming in debt and selling the stations will help pay off that debt. “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. “We are going to use this opportunity to take a serious look at the offers, and the sale proceeds will be used to significantly reduce our debt.”