Allen Media 4Q Earnings Fall to $83m in a Political Off-Year

Allen Media Group brought in ~$211m revenue in 4Q23, according to people with knowledge of the company’s latest results.

• Ebitda was ~$83m, said the people, who asked not to be identified citing private company results; that was down ~19% from the prior year’s Ebitda including political ads
  • Political ads moved the needle on Allen’s financials in 2022 but not in 2023, due to the timing of election cycles
• A representative for the company did not respond to a request for comment
• Allen’s 10.5% senior unsecured bonds due 2028 last traded at around 42.5 cents on the dollar, per Trace
• Chairman ...