Byron Allen’s Allen Media Group (AMG) has elevated Christopher Malone to chief financial officer, the company announced Thursday. Malone initially joined AMG in June as executive vice president and head of corporate development and will now assume the CFO title previously held on an interim basis by Bill Higgs, executive vice president and chief financial officer of AMG’s Weather Group division.
Malone will continue to help lead AMG senior management in merger and acquisition efforts, as well as other corporate strategic initiatives encompassing capital markets, private equity and credit. He will remain based at the AMG headquarters in Los Angeles. Higgs, a 16-year veteran of AMG, will continue in his role with AMG’s Weather Group.
“I am very excited to elevate Chris Malone within the Allen Media Group family to Chief Financial Officer, where Chris will be valuable in helping to lead our M&A efforts and other strategic financial initiatives,” said Allen, founder, chairman and CEO of Allen Media Group. “Chris plays a vital role in helping Allen Media Group continue its trajectory of growth and execute on the large number of acquisition opportunities in front of us.”
Malone has played an integral role in financing notable AMG transactions in the last five years, including AMG’s acquisition of the Weather Channel in 2018 and the company’s $1 billion acquisition of 27 ABC, NBC, CBS and Fox broadcast network-affiliated TV stations nationwide. Before joining AMG, Malone most recently served as a principal with Stellex Capital Management and, prior to that, a director at Brightwood Capital.
“It has been exciting to see the strong growth of Allen Media Group over the past five years and it is even more exciting to join at such a dynamic time for the company,” said Malone. “The industry is experiencing rapid transformation as well as increased consolidation and Allen Media Group is well-positioned to capitalize on this changing paradigm given its strong and differentiated position. I look forward to continue working with the Allen Media Group team to execute on the short-term and long-term acquisition targets.”
