L.A. media mogul Byron Allen sells 10 TV stations to Gray Media [Los Angeles Times (CA)]
Moelis & Company Class A (MC)
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Source: Los Angeles Times
Gray and Allen Media Group announced the agreement Friday. Allen's stations in Huntsville, Ala., Montgomery, Ala., Ft. Wayne, Ind., Lafayette, La., and Paducah, Ky., were part of the transaction. The stations each have affiliations with one of the Big Four broadcast networks: ABC, Fox, NBC and CBS. The move furthers Allen's retrenchment after a $1-billion buying spree in recent years. Allen had a goal of becoming the largest independent television operator in the U.S. But the build-up — which came during an increasingly challenging period for broadcast TV — left the Los Angeles-based company burdened with debt. This spring, Allen Media Group hired investment banking firm Moelis & Co. to sell his network-affiliate television stations. Allen Media Group , which was founded by Allen in 1993, continues to own television channels, entertainment studios and the Weather Channel The Los Angeles entrepreneur and former stand-up comedian had been steadily expanding his empire for mor
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- Moelis & Company (NYSE:MC) was downgraded by analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating. They now have a $80.00 price target on the stock.MarketBeat
- Moelis & Company (NYSE:MC) had its "neutral" rating reaffirmed by analysts at UBS Group AG. They now have a $70.00 price target on the stock.MarketBeat
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- Moelis (MC) Stock Trades Up, Here Is Why [Yahoo! Finance]Yahoo! Finance
- Moelis CEO Navid Mahmoodzadegan to Speak at the Goldman Sachs US Financial Services ConferenceBusiness Wire
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- 10/29/25 - Beat
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