Overview

• Allen Media Group has hired Moelis & Company to market its 28 ABC, NBC, CBS and Fox affiliates.
• The sale is aimed at generating cash to significantly pare down the company’s outstanding debt.
• AMG invested more than $1 billion in these stations over the past six years and has received numerous written offers.
• The company refinanced a $100 million revolving credit facility earlier this year to bolster liquidity.
• Industry-wide cord-cutting and a more competitive advertising market have intensified pressure on linear TV operators.