Allen Media Group has hired the investment bank Moelis to market the 28 local stations it owns in an effort to reduce its debt.

Byron Allen is placing some, but not all, of Allen Media Group's broadcast properties on the market. The decision, which is tied to a debt relief effort, comes at a moment where industry consolidation and an end date for ATSC 1.

Byron Allen has taken significant steps to sell off his local TV stations, according to multiple sources. The move would help him pay down certain debt.