Allen Media Debt Declines After 1Q Results, Full Revolver Draw

Allen Media Group brought in ~$190m revenue in 1Q24, and drew down the full amount available on its revolving-credit facility, according to people with knowledge of the company’s latest financial results, which it reported May 30.

• Allen’s 10.5% senior unsecured bonds due 2028 last traded at around 45.5 cents on the dollar, per Trace, down from 49.75 cents May 29
• Adjusted Ebitda came in at about $40m, down 6% year over year, said the people, who declined to be named discussing private information
• A representative for the company declined to comment
• Chairman and CEO Byron Allen has said Allen would ...