Black News Channel Acquired by Allen Media Group for $11 Million

Byron Allen currently gives people the weather conditions. Now he’s giving the news to go with it.

Allen Media Group, the consortium of media firms that incorporates the Temperature Channel, has obtained the assets of the Black News Channel, a Tallahassee, Florida outlet controlled by Jacksonville Jaguars owner Shahid Khan that declared personal bankruptcy in March. Allen intends to use the new order to construct an viewers of Black consumers at a time when the media and promoting industries have grown ever more acutely aware of making an attempt to reach assorted communities and populations.

“We are thrilled to have been picked to obtain the Black Information Channel, which has close to 300 million linear and digital subscribers,” claimed Allen, the company’s founder and CEO, in a prepared statement. “Allen Media Team will deliver a ideal-in-class network to serve the underserved African-American local community and the advertisers who want to get to this incredibly important viewers. Also, we value the option to present cable operators, satellite firms, telcos, and electronic platforms range of ownership, voices, and viewpoints on their programming line-ups by having a 100 percent African-American owned community.”

The sale of the Black News Channel belongings was accepted by Northern District of Florida, Tallahassee Division of the United States Personal bankruptcy Courtroom. Black News Channel’s backers had previously tried to promote the enterprise to Ebony Studios LLC, a firm joined to Ulysses Lee “Junior” Bridgeman, proprietor of Ebony journal, according to a courtroom submitting.

In March, the enterprise abruptly knowledgeable dozens of staff members that they would be laid off. Founded by former GOP congressman J.C. Watts and broadcast executive Bob Brillante, Black News Channel articulated a mission to provide information for and about people today who are not coated in depth by other mainstream media stores. Amid government turnover, lousy ratings and inside turmoil, even so, Black Information Channel by no means fulfilled its unique objectives in a productive manner.

Less than Allen Media Group, Black News Channel will be a part of Temperature Channel together with digital shops such as Neighborhood Now, HBCU GO and TheGrio. Allen Media Group has also invested more than $1 billion in the very last 3 several years to receive 27 ABC, NBC, CBS and Fox affiliates.Black News Channel has carriage on regular linear packages through Comcast, Constitution, Cox, DISH, DirecTV and Verizon. The community has all around 45 million linear subscribers, Allen Media suggests, and the corporation hopes to broaden that to 80 million in excess of the subsequent 6 months.

Amber

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