Byron Allen Says He'll Never Sell His Media Company — 'As African Americans, We Have To Own Something'
Photo Credit: Greg Doherty

Byron Allen Says He'll Never Sell His Media Company — 'As African Americans, We Have To Own Something'

If you’re waiting for Byron Allen to sell his media empire, you’re going to be waiting a long time.

In an interview with CBS Sunday Morning — which is set to air on Feb. 20 — the comedian-turned-mogul told journalist Lee Cowan that he sees his company as a flashpoint for change in corporate America. Allen says that he’s hoping he can correct what he calls the “trade deficit” between white corporate America and Black America.

“Do we or do we not have economic inclusion?” he said. “And the answer is no. … We have to correct the greatest trade deficit in America, which is the trade deficit between white corporate America and Black America. There are kids out there who look like me that, when they see that, they’re going to, it’s going to change their perspective of themselves.”

For Byron Allen, his desire for economic equality and equity goes deeper than simply doing what’s right for his media empire. He told CBS Sunday Morning that witnessing a major event made him realize the importance of Black media ownership.

“You know, when Berry Gordy sold Motown, and I understand why he sold Motown, I was in the back of the room,” Allen says. “And I started crying. I started crying because I felt like we, as African Americans, we have to own something. We don’t own anything.”

Currently, though, Byron Allen is making headlines for what might be a historic sports move. Earlier this month, AfroTech reported that Allen is making a bid to purchase the Denver Broncos. If he’s successful, he will become the first Black NFL team owner in the sport’s history.

Billionaire Robert F. Smith was initially rumored to be making a bid for the football team, but it was later revealed that Smith had no interest in doing so.

Playing His Part

In his interview with CBS Sunday Morning, Allen said that the biggest “trade deficit” exists between Black America and white corporate America. For his part, Allen is working overtime to change that.

In June 2020, AfroTech reported that Allen’s media company reached a settlement with Comcast after he’d filed a $20 billion suit against them for racial discrimination. Although the full terms of the settlement were not disclosed, Comcast agreed to pick up three channels that are a part of Allen’s Entertainment Studios: JusticeCentral.TV, Recipe.TV, and Comedy.TV.

Currently, Allen and McDonald’s are facing off in the country’s highest courts. As of January 2022, AfroTech reported that he’s able to move forward with his racial discrimination lawsuit against McDonald’s.