Game Changer. Byron Allen


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chocalate_topaz

I wanna be your lover...
I have been so proud of this man here...he has quietly built an empire...

Byron Allen’s Entertainment Studios Acquires The Weather Channel TV Network For $300 Million

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Byron Allen continues to expand his Entertainment Studios media holdings with the purchase of The Weather Channel basic cable TV network. Through his company Allen Media, Allen has acquired the Weather Group, parent company of The Weather Channel TV network and Local Now streaming service, from The Blackstone Group, Bain Capital and Comcast/NBCUniversal.

No dollar figure has been revealed, but according to sources the purchase price was around $300 million.

“The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives,” said Byron Allen, Founder, Chairman, & CEO of Entertainment Studios. “We welcome The Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of The Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”

Allen, a comedian-turned-entrepreneur, has been growing his Entertainment Studios, which became the largest independent producer of first-run syndicated programming. In 2009, Allen launched six 24-hour HD television networks: Pets.TV, Comedy.TV, Recipe.TV, Cars.TV, ES.TV, and MyDestination.TV.

In the past few years he has also emerged as an indie film producer and distributor acquiring Freestyle Releasing in 2015. His recently movie successes include 47 Meters Down and Scott Cooper’s Hostiles, and his 2018 pics via Entertainment Studios Motion Pictures include Toronto Film Festival buys Chappaquiddick and Replicas.

With the acquisition of The Weather Channel and Local Now, Allen now expands into live and local cable news. The Entertainment Studios divisions now include broadcast television syndication, production, and distribution of more than 41 programs; eight 24/7 cable television networks; theatrical motion picture production, acquisition and distribution; digital movie acquisition and distribution; and global news publishing – making Entertainment Studios one of the largest privately held media companies in the world.

Entertainment Studios is 100% owned by Allen, who started the company from his dining room table 25 years ago.

Bain Capital and NBCU bought The Weather Company from Landmark Communications in 2008 for around $3.5 billion before selling off the company’s digital assets for more than $2 billion to IBM in 2015, including the popular Weather.com wesitbe, which carries the Weather Channel name.

The Weather Channel is widely distributed, available in roughly 88 million U.S. homes. Like most basic cable channels, it has struggled with ratings declines due to cord-cutting. Despite partial NBCU ownership, Weather Channel has faced challenges as a stand-alone network with limited leverage in carriage negotiations with distributors, and has faced competition from upstart rival AccuWeather. The Weather Channel also has been affected by people’s growing reliance on the Internet and mobile devices for weather updates.
https://www.yahoo.com/entertainment/byron-allen-entertainment-studios-acquires-150026928.html
 

Media mogul Byron Allen continues to expand his portfolio with the acquisition of The Weather Channel basic cable TV network. Reportedly, Allen Media purchased the Weather Group from The Blackstone Group, Bain Capital and Comcast/NBCUniversal.

Deadline reports that while exact numbers have not been released, sources claim the purchase price was around $300 million.

http://www.ebony.com/news-views/byron-allen-acquires-weather-channel-300-million
 
Dude was mad at some of the civil rights leaders and organizations about this.

AT&T Settles Byron Allen Racial Discrimination Lawsuit, Picks Up 7 Channels

In the complaint against AT&T, the National
Association of African-American Owned Media, an affiliate of Century City-based Entertainment Studios, claimed racial discrimination over the fact that Entertainment Studio had no luck securing a carriage deal with DirecTV after years of trying to engage executives in negotiations.

Allen’s complaint blasted AT&T for having no carriage agreements with “100% African-American-owned media companies.” It made a provocative reference to what it called the practice of African-American celebrities posing as “fronts” for channels owned by “white-owned media,” without naming names.

The complaint also took a swipe at the Rev. Al Sharpton, the Rev. Jesse Jackson, the NAACP and al Urban League, claiming AT&T was “paying off” civil rights orgs to secure their endorsement of the AT&T-DirecTV merger.
 

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