Allen Media and Lenders Start Confidential Debt Negotiations

Some creditors to Byron Allen’s media conglomerate entered into confidential talks with the company to hammer out a deal that addresses its high debt load, according to people familiar with the situation.

• Allen Media Group, which owns The Weather Channel and other television stations, has a cadre of advisers as it stares down debt maturities, Bloomberg reported
• For its part, different creditor groups entered into cooperation pacts, binding them to act together during debt talks
  • Its $840 million term loan due in 2027 is quoted at around record lows of 65 cents on the dollar, according to data ...