Byron Allen Entertainment Studios on Tuesday announced an agreement to acquire 11 television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC for $ 290 million.
Allen’s Media Broadcasting division acquires the broadcast stations, which cover nine smaller markets such as Huntsville, Alabama, Fort Wayne, Indiana, Chico-Redding, Calif., And Eugene, Oregon. The stations will continue to be managed by the current team at USA TV and Heartland Media.
Allen has embarked on a buying frenzy in recent years, building a portfolio of film and television companies. In addition to producing and distributing films and television shows – with 64 shows currently on the air – it owns nine 24-hour HD television networks now serving nearly 160 million subscribers, including the television network The Weather Channel and its Local Now streaming service.
In August, it partnered with Sinclair Broadcast Group to acquire 21 Regional Sports Networks (RSNs) from Walt Disney / Fox Corporation for $ 10.6 billion. In July 2019, it acquired Bayou City Broadcasting, which included four TV stations in Evansville, Indiana (WEVV / CBS and WEEV / FOX) and Lafayette, Louisiana (KLAF / NBC & KADN / FOX) for $ 165 million.
“I have known Byron Allen for decades and we are delighted that these stations are now part of his vibrant company and that Heartland management continues to guide them,” USA Television CEO Robert S. Prather Jr. said in a commentary. communicated. “These stations are dedicated to their local communities and this transaction will allow them to become even stronger on their broadcast and digital platforms. “
“Bob Prather is a great broadcaster and he has done a brilliant job putting together a stellar management team to operate these very strong affiliate network broadcast stations,” Allen said. “This is another important milestone for our business, as we have now agreed to purchase our second group of affiliate stations from a broadcast network within the past three months, and we continue to actively seek additional opportunities to grow our global media business through strategic acquisitions. “