In 2018, Byron Allen’s Entertainment Studios acquired The Weather Channel for $300 million. Since then, he’s continued to dedicate his platform to producing quality content across the globe.

Could Byron Allen’s Allen Media Group be heading toward further expansion?

It’s official! Byron Allen has purchased the Black News Channel.  

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. . @RealByronAllen , who is planning to bid for the NFL’s Denver Broncos, talks to @LeeCowanCBS this #CBSSundayMorning about being the owner of a major media company and being a role model for future black business leaders pic.twitter.com/AVMlF26y3l — CBS Sunday Morning 🌞 (@CBSSunday) February 17, 2022 “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,...

Last week, AfroTech reported that Byron Allen was poised to acquire Tegna in a deal worth $8 billion. Now, however, a new report reveals that the CEO of Allen Media Group has successfully raised $10 billion in a bid to acquire Tegna and engage in some debt management. Reuters is reporting that the deal Byron Allen has put together is backed by 14 banks and 10 investors, including Ares Management Corp, Fortress Investment Group, Oaktree Capital Management, and Michael Milken’s family office. “Ares is leading a $2.2 billion preferred equity investment in support of Allen’s financing package, another of the sources added. Tegna could choose a winning bidder as early as this month, the sources said,” reports the outlet. Byron Allen is said to be going up against investment firms Apollo Global Management Inc. and Standard General LP, but Allen is still poised to be the favorite winner, according to the report. However, New York Post reports that prior to Byron Allen raising the money...

Byron Allen wants Black-owned media to receive what’s rightfully theirs! According to Deadline , The Byron Allen Media Group (AMG) has sued McDonald’s Corp. for $10 billion in damages and alleges that the company has discriminated against Black-owned media. This comes as the high-profile businessman continues to come for big corporations who fail to give Black-owned media a fair shot when it comes to the distribution of massive advertising budgets. Filed in the Superior Court of California in Los Angeles, the lawsuit accuses the fast-food giant of both alleged racial stereotyping and refusing to contract with AMG’s Entertainment Studios and Weather Group in violation of federal and state law. The suit states that while African Americans represent about 40 percent of McDonald’s U.S. sales, African American-owned media receives less than $5 million out of its circulation of $1.6 billion in annual television advertising. In the lawsuit, AMG also alleges that the corporation’s refusal...

Byron Allen continues to make boss moves in the media industry with his acquisition of a new ABC affiliate television station, KITV. According to a press release , the Allen Media Group — a division of Allen Media Broadcasting — has announced that it’s signed a purchase agreement for their possession of KITV-ABC 4 from SJL Broadcasting for $30 million. Broadcast television station KITV operates multiple satellite stations and translators which allow rebroadcast programming outside of metropolitan Honolulu. SJL Broadcasting is owned and operated by the Lilly Brothers — Kevin Lilly and Brian Lilly — and is a privately-owned American broadcasting company. “SJL is proud of the commitment of our KITV family to serve the Hawaiian community. Allen Media Group recognizes the investment in news and will build on our success,” CEO Brian Lilly said . In a written statement from Allen, the founder, chairman, and CEO of Allen Media Group, he stated: “Over the past year we’ve invested over $500...