Overview

• Allen Media Group confirms layoffs as part of a strategic overhaul aimed at enhancing growth and business opportunities.
• The specific number of layoffs has not been disclosed, but the reductions will impact all company divisions.
• Despite the layoffs, Allen Media Group's brands continue to perform strongly, with revenue growth outpacing the market.
• Byron Allen continues to pursue acquisitions, recently making a $30 billion bid for Paramount Global.
• The layoffs come amid broader industry challenges like cord-cutting and advertising headwinds.