Showing 14 results for:
Allen Media Group
Popular topics
All results
Byron Allen is selling local television stations owned by his Allen Media Group (AMG), with investment bank Moelis & Co. handling the deal. The portfolio consists of 28 stations affiliated with ABC, NBC, CBS, and Fox, operating in 21 U.S. markets, including Tupelo, MS ; Honolulu, HI; Flint, MI; and Tucson, AZ, according to The Hollywood Reporter. Allen said AMG began investing over $1 billion six years ago to build a portfolio of “big four” network-affiliated television stations. “We have received numerous inquiries and written offers for most of our television stations and now is the time to explore getting a return on this phenomenal investment,” Allen said, per THR. “We are going to use this opportunity to take a serious look at the offers, and the sale proceeds will be used to significantly reduce our debt.” As the media landscape continues to evolve, AMG has been navigating industry challenges and, over the past year, has implemented a series of measures to streamline...
Allen Media Group has decided not to proceed with its initial plan to terminate or reassign nearly 100 local meteorologists following significant public outrage. As AFROTECH™ previously reported, the media company owned by Byron Allen planned to eliminate meteorologists at over 36 local television stations and replace them with pre-recorded forecasts from a hub of The Weather Channel, which was acquired for $300 million in 2018. However, on Friday, Jan. 24, 2025, NewsCast Studio reported that the media company reversed the decision aimed at streamlining operations and reducing costs. “While not all staff and meteorologists are safe, a majority will remain in their roles. Earlier today, employees were informed of their termination dates, but this afternoon they were told, ‘Allen will no longer hub the weather from Atlanta, and your job is still there,'” meteorologist Emily Pike of WMTW in Westbrook, ME, wrote on Facebook. WAAY in Huntsville, AL, and WTVA in Tupelo, MS, are two...
Byron Allen’s Allen Media Group is terminating or reassigning all local meteorologists at its nearly two dozen stations nationwide, replacing them with a feed broadcasted to individual stations from The Weather Channel, which he also owns. According to CNN, the layoffs will impact at least 50 meteorologists at stations from Massachusetts to Hawaii. Carl Parker, a veteran storm and climate specialist at The Weather Channel, is leading the initiative, which will give some of the affected meteorologists new jobs at its Atlanta, GA-based hub, and others will have the option to stay in their current markets. The Weather Channel will deploy meteorologists during certain weather events. In a news release on Saturday, Jan. 18, 2025, Allen Media said the “groundbreaking” operation “brings together world-class meteorological expertise, cutting-edge technology, and the most advanced forecasting tools to deliver superior weather content to local television station audiences.” “We are proud to...
After taking legal action against McDonald’s in 2021, Byron Allen has filed yet another lawsuit. According to Deadline, the media mogul’s companies including Weather Group, Entertainment Studios Networks (ESN), and CF Entertainment have sued Nielsen. Allen Media Group claims that the ratings company has undercounted its viewers and was unreliable for Allen’s ESN networks, given their limited distribution. “This lawsuit is about Nielsen’s outdated, unreliable and broken television ratings service, and the resulting harm suffered by media companies who rely on Nielsen to sell ad time,” the complaint explains, according to Deadline. In addition to its alleged inaccuracy, ESN also claimed Nielsen failed to tell ESN the truth about its ratings services, which the company reportedly already knew. “Nielsen did not tell Entertainment Studios the truth – that, in reality, its ratings services were not reliable for networks like those owned by Entertainment Studios,” the suit details. Within...
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,...
Byron Allen’s business moves continue. In a press release, it was announced that Allen Media Group (AMG) and Google will join heads for an ambitious multi-year and multi-platform deal. The partnership will benefit AMG as they will have data-driven and secure technology solutions to propel the continued growth of AMG.
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...
Talk about money moves! PR Newswire reports that Byron Allen’s Allen Media Broadcasting (Allen Media) has purchased ABC affiliate WJRT-TV located in Flint, MI for $70 million in cash. Once the deal is closed Allen Media, founded by Allen in 1993, will own and operate 24 local television stations in 20 markets. They will also own and operate 12 television networks which include The Weather Channel and the free-streaming service, Local Now. The close of the Gray/Meredith transaction is reportedly anticipated to take place in the third or fourth quarter of this year (2021). “We are delighted to win the process to add this wonderful local television station and its great employees to the fast-growing Allen Media Group family,” said Allen , Founder, Chairman, and CEO of Allen Media in an official press release. “Over the past year-and-a-half, we’ve invested close to $1 billion to acquire best-in-class, top-tier, broadcast network affiliates and we plan to invest approximately ten billion...
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...
Media mogul Byron Allen has another new deal on the table. According to Variety, Allen and his company — Allen Media Group — have agreed to a deal to buy seven TV stations from Gray Television Inc. for $380 million in cash. Following this deal, Allen will own and operate TV stations in 19 different markets in addition to his other media properties. “We are thrilled to facilitate the transfer of these fine Quincy television stations to Byron Allen and Allen Media Group, who we are confident will continue the strong commitments to journalism and localism that have distinguished these stations under Quincy’s outstanding stewardship.” The Allen Media Group will reportedly acquire KVOA in Tucson, AZ; WKOW in Madison, WI; WSIL in Paducah, KY; KWWL in Cedar Rapids, IA; WXOW in La Crosse-Eau Claire, WI; WAOW in Wausau-Rhinelander, WI; and WREX in Rockford, IL. According to Deadline, the new deal is also set to expand Allen Media’s portfolio to 23 ABC-NBC-CBS-Fox network affiliate broadcast...
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...