Media mogul Byron Allen enlists investment bank to sell TV stations
The move comes after Allen’s aggressive expansion, spending over $1 billion acquiring network-affiliated stations in smaller U.S. markets.
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The move comes after Allen’s aggressive expansion, spending over $1 billion acquiring network-affiliated stations in smaller U.S. markets.
The proposal, which marks Allen’s latest play to bolster his media holdings, is expected to be financed through a combination of secured and unsecured senior debt and equity.
In a scathing critique of Paramount’s decision, Allen accused the conglomerate of orchestrating a “lowball inside deal.”
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