Byron Allen'S Allen Media Group Acquires Black News Channel
07/20/22, 6:48 PM
Location
Byron Allen's Allen Media Group (AMG) is proud to announce that the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, (Case No. 4:22-bk-40087-KKS) issued an order approving the sale of "substantially all of" Black News Channel (BNC) "assets free and clear of all liens, claims, encumbrances and interests" to AMG's networks division. AMG is acquiring BNC out of bankruptcy for $11 million from billionaire Shahid Khan, owner of the NFL's Jacksonville Jaguars franchise. Khan invested over $100 million into BNC.
Company Info
Location
Los Angeles, California, United States
Company info
Byron Allen’s Allen Media Group (formerly, Entertainment Studios) is a global media, content and technology company with production, live broadcast and digital OTT facilities in Los Angeles and Atlanta. The Weather Channel, an Allen Media Group company, is the leader in state of the art climate news gathering and analysis. It delivers live, moment-by-moment updates on global weather systems. With the purchase of The Weather Group, Inc., Allen Media Group takes its first step in broadening its business base which allows stronger client and consumer engagement and divisional synergies. For the last 25 years, Byron Allen's Allen Media Group has built business lines that have reached hundreds of millions of viewers and consumers. With this acquisition, those business lines will align to make a level playing field across our Networks, Broadcast, Syndication, Production and Motion Picture divisions. This allows Allen Media Group a firm foundation for our next steps.
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