Byron Allen buys Honolulu ABC affiliate TV station for $30 million
The media mogul continues his string of major purchases in the news broadcasting market
Byron Allen‘s Allen Media Broadcasting is acquiring an ABC affiliate, KITV, in Honolulu for $30 million.
A division of Allen Media Group, part of the parent company which owns theGrio, Allen Media Broadcasting was founded by Allen, who serves as chairman and CEO.
“Over the past year we’ve invested over $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” the media mogul said in a statement. “We plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America.”
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Allen’s acquisition of KITV from SJL Broadcast Management Corp. includes multiple satellite stations and translators to rebroadcast the station’s programming outside of metropolitan Honolulu — including KHVO-ABC 13 in Hilo, HI and KMAU-ABC 12 in Wailuku, HI — to cover all of the Hawaiian islands.
SJL Broadcast Management Corp. is privately-owned by brothers, Brian Lily and Kevin Lily. “SJL is proud of the commitment of our KITV family to serve the Hawaiian community,” said SJL Broadcasting CEO, Brian Lilly. “Allen Media Group recognizes the investment in news and will build on our success.”
The acquisition brings the number of Big-Four network affiliate broadcast television stations owned and/or operated by Allen Media Broadcasting to 16 across 12 U.S. broadcast markets.
Read More: Byron Allen: ‘I’d love to own CNN. And I will.’
Also included in the KITV portfolio of platforms is a carriage of 4 digital cable networks: MeTV, Hawaii TV, Start TV, and Heroes & Icons, as well as a Washington, DC-based news bureau and correspondent. KITV was known as “Island News.”
A noted philanthropist and activist, Allen was recently profiled by The Hollywood Reporter. He talked about some of the challenges that Black entrepreneurs face. “African Americans don’t have access to capital,” saod Allen, 59. “It’s amazing that for the first 15 to 20 years of my company, I couldn’t get a single bank loan.”
With a coveted media portfolio, Allen told the publication in July of this year “what you see today will be 10,000 times bigger.”
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