Byron Allen Falls Behind on Broadcast Fees

Back in January media mogul Byron Allen placed a $30 billion bid for Paramount Global [click here if you missed that]. 

Now Allen is being accused of failing to pay broadcasting fees to ABC, CBS and NBC...

From CNBC

Broadcast stations owned by Byron Allen — the media mogul who has expressed public interest in buying various media assets for billions of dollars — have been consistently late in making payments to network owners, angering media allies and creating distance between Allen and his would-be deal partners, CNBC has learned.

The stations owned by Allen Media Group have been as much as 90 days past due on the payments to networks including ABC, CBS and NBC, according to people familiar with the matter. The payments total tens of millions of dollars throughout the year, and the extent of the lateness has grown worse over time, said the people, who asked not to be named because the financial transactions are private.

Allen Media Group owns broadcast stations in more than 20 markets between ABC, CBS and NBC affiliates, according to the group’s website.

ABC, CBS and NBC have all grown increasingly frustrated after what feels like a perpetual chase for the fees — even after agreeing to payment plans at Allen’s request, the people familiar said. Paying consistently late is uncommon among local broadcasters, which pay hefty sums to the larger network owners to carry the brand and some content, particularly live sports like the NFL and many postseason games across leagues, the people said.

It’s unclear why Allen Media Group has been repeatedly late with payments.