Allen Media Group, the corporation owned by Tv mogul Byron Allen, is set to undertake a substantial round of layoffs that will influence all divisions of the small business.
“Allen Media Group is generating strategic variations to greater placement the corporation for progress that will outcome in cost and workforce reductions across all divisions of the enterprise,” a spokesperson stated Thursday in a statement to The Occasions.
“Allen Media Group’s models carry on to accomplish very well and in lots of locations our earnings development has significantly outpaced the market. We are aligning these improvements to travel upcoming company chances and help our progress methods in our quickly evolving sector.”
The enterprise did not say how numerous careers would be cut.
Allen Media Group is the parent organization of the Weather conditions Channel and a number of nearby Television set stations.
The stand-up comedian and Television set producer has been earning lots of headlines currently amid reviews that he was between the entertainment executives on the lookout to get Paramount World wide.
Previously this yr, Allen designed a $14.3-billion bid to purchase all of the remarkable shares of the New York Metropolis-based leisure enterprise — house of Paramount Photos, CBS and other legacy brands and franchises.
But analysts and buyers had been skeptical of Allen’s bid for Paramount, questioning whether he’d be equipped to raise the funding required to pull off a deal.
This is a building tale.
