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Byron Allen Targets $10B To Spend On Big Four Affiliates In ’21

Y2kTheNewOldies

Y2kTheNewOldies

finance.yahoo.com

Byron Allen seeks to spend $10B on big four affiliates in 2021

Byron Allen has his eyes set on local tv stations. Allen Media Group, which Byron sits as the CEO, is looking to invest billions into TV station groups in 2021. Byron is looking to acquire a TV stat...
finance.yahoo.com finance.yahoo.com

In this Report Byron Allen has candidates for acquisitions such as Quincy and Meredith if they are approved. It will be interesting to see who else is going to be named as a candidate to Allen Media Group if approved.

The businessman and owner of theGrio is ready to embark on a new TV journey. Allen Media Group, which Byron sits as the CEO, is looking to invest billions into TV station groups in 2021. But it won’t be an easy feat.


“We are looking to deploy more than $10 billion on Big Four affiliates this year,” Allen says in a press release obtained by theGrio. “We are definitely in the hunt on Quincy, Meredith and others.”
He adds, “Don’t be surprised if you wake up and find an [owned-and-operated] group being sold.”

Byron is looking to acquire a TV station group from broadcast networks like ABC, CBS, Fox and NBC but the challenge won’t be easy.
Click to expand...
 
Allen was going after TEGNA just before the pandemic hit. I expect that will probably be revived in the very near future. Apollo/Cox and Gray were also persuing TEGNA.
 
That puts a world of a fix in on Fort Wayne's TV market...
Allen owns WFFT, the Fox affiliate.
Quincy owns 2 stations...WPTA with ABC and NBC affiliation, plus WISE which has The CW, and was for decades the NBC station in the market.
So now the question is what goes where? I could see him ditching WFFT...it's a 10 PM only news station, and days are filled to the brim with judge shows and only two subnets. The others (WISE and WPTA) are the 2 I think Allen would really want in the Fort Wayne market. TIme will tell here I guess...Oh and the other commercial station in town is WANE...it's Nexstar. Doubt it will change hands.
 
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