Byron Allen makes $165 million deal to add four network affiliate stations to his growing portfolio
Media mogul Byron Allen‘s latest power move is the acquisition of Bayou City Broadcasting Evansville, Inc and Bayou City Broadcasting Lafayette, Inc station groups. The $165 million deal, made possible through the Allen Media Broadcasting, LLC, means that Allen adds four network affiliate stations to his impressive portfolio.
The affiliate stations are WEVV (CBS) and WEEV (Fox) in Evansville, IN, and KLAF (NBC) and KADN (Fox) in Lafayette, LA.
“Byron Allen is a visionary, and a brilliant entrepreneur who always gets it done,” said Bayou City Broadcasting Owner/President/CEO DuJuan McCoy in statement. “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.”
Byron Allen makes history again thanks to $10.6 BIL media deal
News of the network affiliates acquisition comes just days after another big announcement from the media mogul. Over the course of his career, Entertainment Studios founder and CEO, Byron Allen has earned a reputation for shaking up the status quo. Thanks to a new acquisition in partnership with Sinclair Broadcast Group, valued at a whopping $10.6 billion, it looks like the trailblazing entertainment business guru has done it again!
On May 3, it was announced that Diamond Sports Group, a subsidiary of Sinclair, would be purchasing 21 regional sports networks (plus Fox College Sports) from Walt Disney Co, with Allen slated to become an equity and content partner.
Previously, Disney had agreed to sell the 22 networks in order to get regulatory approval from the Department of Justice for its $71.3 billion deal with 21st Century Fox.
“This is a very exciting transaction for Sinclair to be able to acquire highly complementary assets,” Chris Ripley, president and CEO of Sinclair said in a statement. Ripley added that although consumer viewing habits have shifted over the years, “the tradition of watching live sports and news remains ingrained in our culture.”