2023-05-02 16:17:51 ET
Media mogul Byron Allen is interested in acquiring TV broadcast affiliates to add his holdings in the local broadcast networks.
"We are very interested in any stations that become available, no matter who owns them," Allen said in an interview with Bloomberg TV, when asked if he's still interested in buying TV broadcaster Tegna ( NYSE: TGNA ).
Allen was reportedly bidding for Tegna ( TGNA ) before it agreed to a sale to Standard General for $24/share in February of last year. That sale now appears to be on life support with the Federal Communications Commission decision to send it to an in-house hearing.
Allen also said he's interested in buying BET Media Group from Paramount ( NASDAQ: PARA ) after a Bloomberg report in March that said Allen as well as filmmaker Tyler Perry and others were interested in an acquisition of BET media assets.
"They are running a process and we are part of it," Allen said in an interview with Bloomberg from the Milken Conference in Los Angeles. "This is just a big opportunity that we are vigorously pursuing."
More on Tegna/Standard General
- Tegna drops after a court declines to speed up Standard General deal review at FCC
- Tegna gains amid Standard General pledge to unions on job security
- Buy Tegna even as Standard General deal likely dead after FCC hearing order
- TEGNA: An Arbitrager's Nightmare Is A Fundamental Investor's Opportunity
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Byron Allen interested in buying local broadcast networks, BET