For years, The MouthSoap has peeked the game of the impeccable business man Byron Allen. If you ask the average person who he is, they may draw a blank. But, Mr. Allen is definitely the man to watch.
The Entertainment Studios CEO just made a deal to acquire 11 TV stations from USA Television. For $290M, Allen Media Group will add stations from network affiliates, such as ABC, NBC, Fox and CBS. The stations are located in small to mid-size markets, including Fort Wayne, Ind., Terre Haute, Ind., Eugene, Ore., and Chico-Redding, CA., to name a few.
In July, Allen invested $165M to acquire stations in Louisiana and Indiana. So far this year, Allen has invested $455M in acquiring TV stations all over the U.S.
As quiet and swift as the company moves, Allen Media is becoming the top black-owned media company to own local TV stations in the nation.
The CEO of USA Television, Robert S. Prather Jr. praised the deal. “I have known Byron Allen for decades and we are delighted that these stations will now be part of his dynamic company, and that Heartland management will continue to guide them.”
Allen returned the praise, “Bob Prather is an excellent broadcaster and he has done a brilliant job of assembling a stellar management team to operate these very strong network affiliate broadcast stations. This is another milestone for our company, as we have now agreed to purchase our second broadcast network affiliate station group within the past three months, and continue to aggressively look for other opportunities to grow our global media company through strategic acquisitions.”
Allen, 58, started his career in entertainment as a stand-up comedian at the age of 14. His first appearance on TV was on the The Tonight Show Starring Johnny Carson. After working as talent in entertainment for a number of years, Allen founded Entertainment Studios in 1993. By 2009, Allen established 8 TV networks focused on a variety of topics, from cars to criminal justice. Today, Allen Media Group has a diverse portfolio that includes The Weather Channel, Fox Sports Networks, new game show Funny You Should Ask and entertainment news platform The Grio.
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