Entertainment Studios Expands Broadcast Television Holdings By Closing Deal To Purchase Eleven Television Stations With Network Affiliations Including ABC, CBS, NBC, And FOX For $305 Million

LOS ANGELES, Feb. 11, 2020 /PRNewswire/ -- Entertainment Studios, one of the largest independent producers and distributors of film and television, with 64 shows on the air, and owner of nine 24-hour HD television networks now serving nearly 160 million subscribers -- including The Weather Channel television network and its streaming service Local Now -- announces it has closed on the acquisition of 11 broadcast television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC (collectively, USA TV) for $305 million. Byron Allen's Allen Media Broadcasting division has acquired the following broadcast television stations:

Allen's continued expansion into broadcast television is the latest step the company has taken in further extending the global reach of its programming and content. The Entertainment Studios divisions now include: broadcast television network affiliates, streaming services, broadcast television syndication, production and distribution of 64 television programs, nine 24/7 HD television networks, theatrical motion picture production, acquisition and global distribution, digital movie acquisition and distribution, and global news publishing – making Allen Media Group one of the largest privately-held media companies in the world. Byron Allen started the company from his dining room table 27 years ago, in 1993.

The USA TV portfolio acquisition follows several recent transformative transactions executed by Byron Allen. In August 2019, Mr. Allen personally partnered with Sinclair Broadcast Group to acquire 21 Regional Sports Networks (RSNs) from Walt Disney/FOX Corporation for $10.6 billion. In July 2019, Byron Allen acquired Bayou City Broadcasting, which included 4 television stations in Evansville, IN (WEVV/CBS & WEEV/FOX) and Lafayette, LA (KLAF/NBC & KADN/FOX) for $165 million. In March 2018, Mr. Allen acquired The Weather Channel, one of the most trusted news networks that has served Americans for nearly four decades.  After investing $470 million in broadcast television station acquisitions over the past six months, the addition of the USA TV portfolio grows the Allen Media Broadcasting group to 15 television stations across 11 U.S. markets, and allows Allen Media Group to reach an even broader audience, while strategically positioning the company across broadcast television, cable networks, and digital media platforms. 

"I have known Byron Allen for decades and we are delighted that these television stations will now be part of his amazing company," said USA Television CEO Robert S. Prather, Jr. "These stations are dedicated to their local communities and this transaction will enable them to become even stronger on both their broadcast and digital platforms."

"Over the past six months we've invested nearly $500 million to acquire best-in-class, top-tier, broadcast network affiliates," said Byron Allen, Founder/Chairman/CEO of Entertainment Studios/Allen Media Group. "We plan to invest approximately ten billion dollars to acquire ABC, CBS, NBC, and FOX television stations over the next three years with the goal of being one of the largest broadcast television groups in America."

About Entertainment Studios / Allen Media
Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, and Raleigh.  Entertainment Studios owns 15 U.S. broadcast television stations and nine 24-hour HD television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. Entertainment Studios also owns the LOCAL NOW streaming service, powered by THE WEATHER CHANNEL and content partners, which delivers real-time, hyper-local news, weather, traffic, sports, and lifestyle information. Entertainment Studios also produces, distributes, and sells advertising for 64 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 5,000 hours of owned content across multiple genres, Entertainment Studios provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web.  Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.

Entertainment Studios Motion Pictures is a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017's highest-grossing independent movie, the shark thriller 47 METERS DOWN, which grossed over $44.3 million. In 2018, ESMP also released the critically-acclaimed and commercially successful Western HOSTILES, the historic mystery-thriller CHAPPAQUIDDICK and the sequel to 47 METERS DOWN, 47 METERS DOWN: UNCAGED. The digital distribution unit of Entertainment Studios Motion Pictures, Freestyle Digital Media, is a premiere multi-platform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, proven track record and a veteran sales team, Freestyle Digital Media is a true home for independent films.

In 2016, Entertainment Studios purchased TheGrio, a digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. TheGrio features aggregated and original video packages, news articles and opinion pieces on topics that include breaking news, politics, health, business and entertainment. Originally launched in 2009, the platform was then purchased by NBC News in 2010. The digital platform remains focused on curating exciting digital content and currently has more than 20 million annual visitors.

For more information, visit: www.entertainmentstudios.com

SOURCE Entertainment Studios

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