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LOS ANGELES (AP) — The Weather Channel is under new ownership.

Entertainment Studios Inc., an independent movie and TV producer and distributor, said Thursday it’s acquired the channel’s parent company, Weather Group.

Byron Allen, founder and owner of Entertainment Studios, bought the Weather Group from the Blackstone Group, Bain Capital and Comcast-NBCUniversal, Entertainment Studios said.

 

 

“The Weather Channel is a phenomenal asset,” Allen said in an interview. “It is the No. 1 weather news network in America. It’s a network that’s very important, that provides us information to protect our families and our lives.”

The purchase price for the channel and Local Now, a news streaming service, reportedly was $300 million. Entertainment Studios declined to confirm the figure.

Bain, Blackstone and Comcast-NBCUniversal bought the Weather Channel Cos. from Landmark Communications in 2008 for a reported $3.5 billion. The new owners sold digital assets including the Weather.com website for a reported $2 billion-plus to IBM in 2015.

Allen called the Weather Channel “an American treasure” that he intends to expand.

“We’re just honored to be able to own and take it to the next level,” he said. “They’re already doing great, we’re just going to invest more to position it for greater success” domestically and internationally.

Meteorologist Jim Cantore is among the familiar faces at the basic cable channel that’s available in more than 80 million North American homes.

In a statement, Weather Channel CEO Dave Shull said Allen’s ownership will benefit its viewers, distributors and advertisers.

Entertainment Studios owns seven TV channels, including Comedy.tv and Justice Central.tv, which are distributed online and by pay-TV providers.

It also owns TheGrio.com, a website devoted to African-American stories and issues.

Allen said the purchase of the Weather Group was completed Thursday morning through his company Allen Media LLC.

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15 thoughts on “Byron Allen Buys The Weather Channel For $300M

    • Amber on said:

      WRONG!!! It takes ALL OF IT to produce. It takes hollowing, shouting, money, business mind, togetherness, willing to help, and goal to produce.

  1. Eddie on said:

    Why don’t BLACK folk know more about Byron Allen !!! Maybe because he doesn’t sing , dance, run,jump,or act like a fool…He is the type of role model our sons and daughters need to know mre about ,,,Way to go Mr. Allen !!

    • Like Cosby,Allen actually started out as a comedian and actor, but it’s heartening to see him making smart business moves offstage and behind the camera.I pray to God he doesn’t end up on the MeToo hit list.

    • Amber on said:

      There is nothing wrong with our people singing, dancing, run, jumping (acting the fool, now that a different story. Plus, you have not seen Bryon what he did in the 80’s which was COMEDY). We can celebrate all success. Blacks are NOT limited to be one kind of success.

  2. Ted Gravely on said:

    Knew Byron had bank, didn’t know he had “bank.” Excellent. You can make changes if you own something. Way to go.

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