FTVLive

View Original

Networks Not Happy with Byron Allen's Late Payments

It seems that ABC, NBC, and CBS are not to happy with Byron Allen telling them the checks in the mail.

Word is that the Allen Media CEO has been consistently late in making payments to the networks.

CNBC reports that the payments to ABC, CBS and NBC total tens of millions of dollars throughout the year, and the extent of the lateness has grown worse over time.

FTVLive FIRST told you that vendors were saying that the Allen Media stations were slow to pay their bills, and it appears that goes all the way up to the networks.

Allen Media Group has been as much as 90 days past due on the payments to networks.

Networks collect fees from local affiliates every one to three months, depending on the contract. The funds to pay come in large part from retransmission fees that cable TV operators pay to the stations.

I don’t think anyone working at an Allen Media station is surprised by this news.

See this content in the original post