Byron Allen is putting his broadcast TV stations up for sale. Allen Media Group said on Monday it has retained investment bank Moelis & Co. to sell its group of 28 owned and operated broadcast TV stations, which are affiliated with ABC, NBC, CBS and Fox in 21 markets across the U.S. In a news release, Allen said the company has invested more than $1 billion into acquiring the stations over the past six years and after receiving “numerous inquiries and written offers” for most of the stations, has decided to explore a sale. The Allen Media Group stations join others that have recently hit the sale block. Last year, CNBC reported that Sinclair was exploring the sale of more than 30% of its stations. Apollo Global Management is also reportedly exploring a sale of its Cox Media Group portfolio of TV and radio stations. Allen Media Group said a…
