Scoop: Byron Allen is selling his local TV stations

Allen has received offers for some or all of his local TV station portfolio; a divestiture allows Allen Media Group to pay down existing debt, rather than refinance it.

Byron Allen. (Still frame via web video)

Byron Allen is ready to exit the local television business.

Allen, the founder and CEO of Allen Media Group, has made significant steps over the past few weeks with the goal of divesting his entire local TV station portfolio, including outlets affiliated with ABC, CBS, Fox and NBC in nearly two dozen markets, according to multiple sources who confirmed the matter to Multicast News over the weekend.