Media Mogul Byron Allen To Acquire Bayou City Broadcasting For $165 Million
Allen Enters into a Definitive Purchase and Sale Agreement to Acquire CBS, NBC, and FOX Broadcast Television Affiliates in Two Markets in Indiana and Louisiana
LOS ANGELES, May 6, 2019 /PRNewswire/ -- Entertainment Studios, Inc., one of the largest independent producers and distributors of film and television, with 43 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 -- proudly announces its acquisition of Bayou City Broadcasting Evansville, Inc., and Bayou City Broadcasting Lafayette, Inc. Allen is purchasing the station groups through his company, Allen Media Broadcasting LLC.
Byron Allen, who recently joined Sinclair Broadcast Group to successfully acquire the Fox/Disney 21 Regional Sports Networks (RSNs) for $10.6 billion, and also purchased The Weather Channel in 2018, has publicly stated he has been aggressively pursuing additional media assets to purchase. The purchase of these four Bayou City Broadcasting entities -- WEVV (CBS) & WEEV (Fox) in Evansville, Indiana and KLAF (NBC) and KADN (Fox) in Lafayette, Louisiana -- provides Allen's television unit with a broader audience and strategically positions the company in broadcast and digital media.
"Byron Allen is a visionary, and a brilliant entrepreneur who always gets it done," said Bayou City Broadcasting Owner/President/CEO DuJuan McCoy. "Byron Allen's companies, which exemplify excellence, are perfectly positioned to continue the strong tradition these stations have in serving their communities."
"DuJuan McCoy is an outstanding broadcaster and he has done a phenomenal job of assembling a strong management team to operate these network affiliate stations," said Byron Allen, Founder/Chairman/CEO of Entertainment Studios/Allen Media LLC. "This is another milestone for our company, as we have now agreed to purchase our very first broadcast television stations and continue to look for other opportunities to grow our global media company through strategic acquisitions."
Allen's expansion into broadcast television is the latest step Entertainment Studios has taken in further expanding 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 43 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 Entertainment Studios one of the largest privately-held media companies in the world. Entertainment Studios is one hundred percent owned by Byron Allen, who started the company from his dining room table 26 years ago.
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 nine 24-hour HD television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, THE WEATHER CHANNEL EN ESPAÑOL, 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 43 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 and the historic mystery-thriller CHAPPAQUIDDICK. Upcoming releases include the animated feature ARCTIC DOGS starring Jeremy Renner, Heidi Klum, Alec Baldwin, and Anjelica Huston, 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
www.thegrio.com
SOURCE Entertainment Studios, Inc.
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