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Allen Media Group (AMG) CEO Byron Allen has long been a formidable presence in the entertainment industry, but his recent legal victory against McDonald’s has thrust him into the spotlight once again. Thanks to the settlement, Allen’s already considerable wealth is sure to reach new heights. The media mogul previously filed a discrimination lawsuit against McDonald’s for $10 billion. While the final numbers of the settlement aren’t public, they could be substantial. Given the stakes, the settlement is sure to increase Byron Allen’s net worth even more. For some people, this lawsuit may have been the first time they’ve heard of Byron Allen. If so, they’re likely wondering how he amassed enough wealth, influence, and capital to sue one of the most recognizable brands in the world. However, his journey from stand-up comedian to billionaire media mogul is a testament to his entrepreneurial spirit and determination. Born in Detroit in 1961, Allen moved to Los Angeles at a young age and...
Media mogul Byron Allen has settled his $10 billion racial discrimination lawsuit against McDonald’s, Variety reports, ending a legal battle over the fast-food giant’s advertising practices toward Black-owned media. Announced in a joint statement on June 13, according to the outlet, the agreement avoids a federal trial that was set to begin next month in Los Angeles, CA. While terms were not disclosed, both sides expressed optimism about their renewed business relationship. McDonald’s said the deal establishes a commercial arrangement “consistent with other McDonald’s supplier relationships” and reaffirmed its “unwavering commitment to inclusion.” AFROTECH™ previously reported that the lawsuit claimed McDonald’s used a tiered ad-buying system that placed Black-targeted media in a lower “African American tier” with fewer advertising dollars than its general market budget. Allen argued this structure marginalized Black-owned outlets, limiting access to larger ad buys despite their...
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...
A new update regarding the potential sale of BET has been revealed. According to Bloomberg, Paramount is reportedly in talks with BET CEO Scott Mills and CC Capital Founder Chinh Chu, who are looking to buy the network. Bloomberg’s anonymous sources share that the group is aiming to offer $1.6 billion to $1.7 billion. The outlet details that the new offer follows the group’s initial attempt to purchase BET in December 2023 for “a little under $2 billion” and also comes after Paramount’s proposed merger with David Ellison’s Skydance Media fell through. As previously shared by AFROTECH™, Byron Allen has shown avid interest in being a potential buyer of BET. So much so that he reportedly placed an offer of $3.5 billion that same month. The whopping offer marked the media mogul’s second attempt to lock in the opportunity to make BET Black-owned again. “You are pursuing an inside sale at a below-market price with management that will not yield the highest price for the stockholders,”...
Byron Allen has placed a significant proposal on the table once again. The Hollywood Reporter states Allen Media Group is looking to place a $14.3 billion offer to purchase Paramount Global’s remaining shares. If the deal is approved, Allen Media Group will acquire Paramount’s debt as well, which is estimated to be $15 billion. “Mr. Byron Allen did submit a bid on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global’s outstanding shares,” the statement read, according to the outlet. “We believe this $30 billion offer, which includes debt and equity, is the best solution for all of the Paramount Global shareholders, and the bid should be taken seriously and pursued.” This isn’t Allen’s first proposal to acquire another media giant. As AFROTECH previously told you, the billionaire was looking to purchase BET Media Group, when it had been put up for sale by Paramount Global in 2023. Ultimately, Paramount Global would retract its proposal in August...
McDonald’s has officially been ordered to stand trial in the $10 billion discrimination lawsuit brought forth by media mogul Byron Allen, Reuters reports. As previously reported by AfroTech, the suit accuses the fast-food chain of “racial stereotyping” by excluding Black-owned media from its advertising. As of Friday (Sept. 16), U.S. District Judge Fernando Olguin gave Allen the greenlight to attempt to prove that McDonald’s violated both federal and California rights by saying that his networks were not eligible for the “vast majority” of its advertising dollars.
There is a glimmer of hope for the Black News Channel. As AfroTech previously told you, the news outlet filed for bankruptcy after losing one of its biggest investors, Jacksonville Jaguars owner Shahid Kahn. Cablefax reports that the CEO and sole shareholder of Entertainment Studios Network, Byron Allen, may be stepping in and has already placed a bid worth $11 million to buy the network.
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...