Byron Allen buys Weather Channel for $300 million

[Clark Wayne]

Comedian Byron Allen Buys the Weather Channel for $300 Million

Comedian and producer Byron Allen acquired the Weather Channel TV network as he looks to expand his film and TV production company into a major media business.



Allen’s Entertainment Studios Inc. bought the network from Blackstone Group, Bain Capital and Comcast Corp., according to a statement Thursday. The price was approximately $300 million, according to a person familiar with the terms who wasn’t authorized to speak publicly and asked not to be identified.



The deal includes the famous cable TV network, but not the online assets such as the website Weather.com and related mobile apps, which were acquired by International Business Machines Corp. in January 2016.



“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 said in the statement.



Allen’s company produces and syndicates TV shows and has released films, such as last year’s thriller “47 Meters Down.”

The Comcast-Blackstone-Bain-led group had purchased the Weather Channel in 2008 for about $3.5 billion.

 

[NoGutsNoGLory]

is this a good idea tho? Technologu has made weather channels obsolete

 

[Alexander The Great]

hopefully he converts it to a new and improved and Black owned BET

hmmm, article says Bain/comcast bought the channel back in 2008 for 3.5 billion!

and now Allen is buying it for 300 million i know it doesn't include the online stuff, but thats still very interesting.

 

[Ol’Otis]

Dope shyt

 

[hayesc0]

Dude has quietly been one of the most powerful individuals in entertainment for a long time.

 

[8WON6]

hopefully he converts it to a new and improved and Black owned BET

This is what I was thinking.

 

[ORDER_66]

GAWDDAMN....

 

[CodeBlaMeVi]

is this a good idea tho? Technologu has made weather channels obsolete

You’re right but he can change the channel and he’s already in the homes

 

[Henri Christophe]

Boss shyt


None of these rap nikkas can say some fly shyt like this in their verses

Byron Allen been bossed up

 

[hayesc0]

How did he get it for so cheap?

 

[Clark Wayne]

Some more info on what Byron also owns at the moment

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

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 Downand Scott Cooper’s Hostiles, and his 2018 pics via Entertainment Studios Motion Pictures include Toronto Film Festival buys Chappaquiddikk and Replicas.


With the acquisition of The Weather Channel and Local Now, Allen 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.

 

[Colilluminati]

is this a good idea tho? Technologu has made weather channels obsolete

He didn’t even get the website .

This was prolly done as a favor to just expand his portfolio . Dude was suing Comcast for billions last year . This is prolly just to ease some tension between him and comcast.

 

[Mr. Negative]

is this a good idea tho? Technologu has made weather channels obsolete

no it hasent.

People stay glued to weather channels until the power goes out. Then they're on their phones.

 

[ProfessionallyTrill]

Byron also owns Comedy.TV, Cars.TV and a bunch of other networks.

Dude is about his business.

TWC is headquartered in ATL (Cobb Co.) which is nearby and has a nice sized building. I wonder what opportunities will come of this.

 

[Henri Christophe]

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

King shyt