In a press release on Monday, June 2, the mogul’s Allen Media Group (AMG) said it retained investment bank Moelis & Company to sell its 28 broadcast stations around the country, in an effort to “significantly reduce Allen Media Group’s debt.”
As part of the agreement, Moelis will help AMG find buyers for its ABC, NBC, CBS, and FOX affiliated stations in 21 different markets around the country.
Allen, who is founder, chairman and CEO of Allen Media Group, noted that he’d previously received offers for the stations, but held onto them until now…