Byron Allen Completes Buy of 11 TV Stations; Eyes $10B in Deals
Byron Allen’s Entertainment Studios and subsidiary Allen Media Broadcasting closed on the buy of 11 TV stations from USA TV for $305 million, said Entertainment Studios. After the purchase, Allen Media Broadcasting owns 15 stations in 11 markets. "Over the…
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past six months we've invested nearly $500 million to acquire best-in-class, top-tier, broadcast network affiliates," said Allen Tuesday. "We plan to invest approximately ten billion dollars to acquire ABC, CBS, NBC, and FOX television stations over the next three years with the goal of being one of the largest broadcast television groups in America." The deal includes WAAY-TV Huntsville, Alabama; WFFT-TV Fort Wayne, Indiana; and KHSL-TV Chico, California.