Byron Allen is out here making major money moves.

His Entertainment Studios has acquired The Weather Channel for an estimated $300 million.

via THR:

The Weather Channel, which began airing on linear TV in 1982, offers local and national storm updates along with programming series such as American Super/Natural, morning show AMHQ, Highway Thru Hell, Hurricane 360 and So You Think You’d Survive? In 2017, as hurricanes and fires dominated headlines, ratings for the channel rose 14 percent to an average 248,000 primetime viewers.

The TV network had been owned by Blackstone, Bain and NBCU since 2008, when that group had acquired the channel from Landmark Communications for a reported price tag near $3.5 billion. At the time, the channel was one of the most distributed in the U.S.

Notably, Allen’s deal does not include digital assets such as Weather.com, Weather Underground and its Weather Channel app, which were acquired by IBM’s The Weather Company division in January 2016. (The Weather Company web offerings draw a sizable audience, with 117,755,000 U.S. unique visitors, according to comScore’s February 2018 report.)

“The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives,” said Allen. “We welcome The Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of The Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”

“We are excited to join Entertainment Studios, and we are especially proud to be part of one of the largest emerging global media companies,” said Dave Shull, CEO of The Weather Channel. “Byron Allen’s purchase of our innovative and forward-thinking organization will increase the value we bring to our viewers, distributors and advertisers.”

With the addition of the network, Entertainment Studios will own eight linear television channels focused on lifestyle topics, including pets, recipes and cars. Allen has also been active in the film and television acquisition space, snapping up acclaimed films like Christian Bale’s Western Hostiles and Ted Kennedy biopic Chappaquiddick and planning a sequel to breakout indie shark thriller 47 Meters Down.

Now THAT’s a big acquisition!

 

 

Source www.lovebscott.com 


Tiffany Gaines
Tiffany Gaines

Owner & Founder of Shared Success Global and Entertainment Industry Executive Tiffany Gaines, has been building a name for herself as a woman of integrity and professionalism for more than a decade. Currently wearing several hats in both the entertainment and hotel industries, she has soon preserved the highest levels of professional and personal ethics by maintaining a long-term stability in providing access to a network spectrum of quality entertainment sources to both sides of the business. She’s at present, the business manager for Curtis Young, Son of the Iconic Dr Dre and Executive Board of Director for Forever Young Legacy, LTD, while also holding several other positions such as the Business Manager for former drug Kingpin, now currently Amazon’s best seller/Author Freeway Rick Ross, Urban Pop sensation, singer/songwriter Myko of Rick Ross Music Group and Billboard charting, national recording artist and designer Christine Storm. In addition to management, she is the CEO of LRT Entertainment, Owner and Founder of SS (SHARED SUCCESS) Music Group/BLASIA’S ENTERTAINMENT LLC (A global online marketing agency/distribution company currently marketing and distributing for close to 4,000 artists worldwide), Label Manager for Rick Ross Music Group and Senior Director of Marketing for Monsta Squadd Global and the host of the Underground Over Mainstream Movement aimed at offering worldwide recognition to underground artists who deserve to be honored and recognized just as much as the next mainstream. With a Bachelor’s degree in Political Science with an emphasis on Law and Society, she has proved herself not only as one with intelligence and skill, but also a serious determined business woman and entrepreneur. She currently represents a select few of international clientele in both Japan and China for those seeking to raise or re-position their public profile in the Entertainment Industry. In addition to her extensive resume, she is also a partner and International Hotel Broker for the National Hotels Association (A global network offering hotels at discounted wholesale rates holding contracts with over 750,000 hotels worldwide) servicing her entire platform of Artists, Producers, CEO’s, Label owners, promoters, booking agencies and corporate companies saving her clients up to 75% off retail prices online. Over the years, she has held many positions of the entertainment industry from both major to independent, vastly moving around this circle on various prestigious and exclusive levels. She’s an advocate speaker for the youth, supporter of charitable non-profit organizations and meaningful causes and above all gives every bit of the credit of her works to the Most-High.

Comments

Leave a Reply

Your email address will not be published.