Comedian Byron Allen Just Bought The Weather Channel for $300 Million!by GDN Shared Post March 26, 2018
Most people know Byron Allen as a funny comedian, but he is also a successful entrepreneur and media mogul as the CEO/owner of Entertainment Studios, Inc., one of the largest independent producers and distributors of film and television. His Los Angeles-based company currently has 41 shows on the air, and owns eight 24-hour HD cable television networks reaching nearly 160 million aggregate subscribers nationwide. And now, his company is the proud new owner of the Weather Channel!
The Weather Channel is one of the largest cable television networks not owned by a major conglomerate, and ranks number one in weather news. Harris Poll has ranked The Weather Channel as the “TV News Brand of the Year” for eight years in a row, and the network is the nation’s most trusted resource for daily weather information.
“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 Allen. “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.”
Not the only major acquisition
In 2016, Allen also purchased TheGrio.com, a digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. TheGrio features aggregated and original video packages, news articles and opinion pieces on topics that include breaking news, politics, health, business and entertainment.
For more details about Byron Allen or his company, visit www.es.tv