As Media Industry Pressures Mount, Byron Allen Sells 10 Local TV Stations to Gray Media in $171 Million Deal

As Media Industry Pressures Mount, Byron Allen Sells 10 Local TV Stations to Gray Media in $171 Million Deal

Media mogul Byron Allen has begun divesting his local television holdings, selling 10 stations to Gray Media in a $171 million transaction that marks the first major sale from his 28-station portfolio amid unprecedented industry-wide restructuring affecting all traditional media companies. Allen’s strategic divestiture comes as the broader media landscape faces severe financial pressures, with major conglomerates announcing significant workforce…