Byron Allen is selling local television stations owned by his Allen Media Group (AMG), and Moelis & Co. is managing the deal. Allen Media Group announced the news on May 2, according to The Los Angeles Times. The company needs to pay down debt, Allen said in a statement. Over the past six years, the company has invested over $1 billion in acquiring stations with the hopes of becoming the largest independent television operator in the United States. Its portfolio includes 28 stations affiliated with ABC, NBC, CBS, and Fox,
Allen Media Group (AMG) has backpedaled on its decision to end weather forecasting operations across its local television stations, following widespread outrage from viewers. AMG reverses its layoff plans Originally, AMG planned to replace its weather forecasting operations with streamlined operations to reduce costs. The cuts could have led to the termination of nearly 100 local forecasters across 36 outlets. However, after announcing the move, it faced serious backslash from the people served by AMG stations. “While not all staff and meteorologists are safe, a majority will remain in their roles.
