Entertainment Studios Expands TV Stake By Closing Deal To Purchase Eleven TV Stations With Network Affiliations Including ABC, CBS, NBC And FOX For $ 305 Million

LOS ANGELES, February 11, 2020 / PRNewswire / – Entertainment studios, one of the largest independent producers and distributors of film and television, with 64 shows on the air, and owner of nine 24-hour HD television networks now serving nearly 160 million subscribers, including The weather channel television network and its streaming service Local now – announces that it has completed the acquisition of 11 television stations from United States Television Holdings LLC and United States MidAmerica Holdings LLC Television (collectively, United States tele) for 305 million dollars. by Byron Allen Allen Media Broadcasting division acquired the following broadcast television stations:

Allen’s continued expansion into television broadcasting is the latest step the company has taken to further expand the global reach of its programming and content. The Entertainment studios divisions now include: broadcast television network subsidiaries, streaming services, broadcast television syndication, production and distribution of 64 television programs, nine 24-hour HD television networks, 7 7 days a week, motion picture production, global acquisition and distribution, digital film acquisition and distribution, and news publishing – do Allen Media Group one of the largest private media companies in the world. Byron allen started the business from its dining table 27 years ago, in 1993.

The American television the portfolio acquisition follows several recent transformative transactions executed by Byron allen. In August 2019, Mr. Allen was personally associated with Sinclair Broadcast Group acquire 21 Regional Sports Networks (RSNs) of Walt disney/ FOX Corporation for $ 10.6 billion. In July 2019, Byron allen acquired Diffusion of the city of Bayou, which included 4 TV stations in Evansville, IN (WEVV / CBS & WEEV / FOX) and Lafayette, LA (KLAF / NBC & KADN / FOX) for $ 165 million. In march 2018, Mr. Allen acquired The weather channel, one of the most trusted news networks serving Americans for nearly four decades. After investing $ 470 million in acquisitions of television broadcasting stations over the past six months, the addition of the United States TV portfolio grows Allen Media Broadcasting group of 15 television channels in 11 American markets, and Allen Media Group to reach an even larger audience, while strategically positioning the company on television, cable networks and digital media platforms.

“I knew Byron allen for decades and we are delighted that these TV channels are now part of his great business, ”said United States Television CEO Robert S. Prather, Jr. “These stations are dedicated to their local communities and this transaction will allow them to become even stronger on their broadcast and digital platforms. “

“In the last six months, we have invested almost $ 500 million to acquire the best affiliate broadcast networks in their class, ”said Byron allen, Founder / Chairman / CEO of Entertainment Studios / Allen Media Group. “We plan to invest around 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 television groups in America. ”

About Entertainment Studios / Allen Media
President and CEO Byron allen based Entertainment studios in 1993. Based in Los Angeles, she has offices in new York, Chicago, Atlanta, and Raleigh. Entertainment Studios owns 15 US-broadcast TV channels and nine 24-hour HDTV networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, ANIMALS.TV, COMEDIE.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. Entertainment Studios also owns the LOCAL NOW streaming service, powered by THE WEATHER CHANNEL and content partners, who provide real-time, hyper-local information on weather, traffic, sports and lifestyle. Entertainment Studios also produces, distributes and sells advertising for 64 television shows, making it one of the largest independent producers / distributors of first-run syndicated television shows for television stations. With a library of over 5,000 hours of content across multiple genres, Entertainment Studios delivers video content to television stations, cable television networks, mobile devices, multimedia platforms and the World Wide Web. Our mission is to deliver great programming to our viewers, online users and Fortune 500 advertising partners.

Entertainment Studios Movies is a full-service motion picture distribution company specializing in mass market commercial content. ESMP released the highest-grossing independent film of 2017, the shark thriller 47 METERS DOWN, which brought in more than $ 44.3 million. In 2018, ESMP also released the critically acclaimed and commercially successful Western. HOSTILES, the historical mystery thriller CHAPPAQUIDDICK and the rest of 47 METERS DOWN, 47 METERS DOWN: NO CAGE. Entertainment Studios Motion Pictures’ digital distribution unit, Freestyle digital media, is a leading multiplatform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, a proven track record and a seasoned sales team, Freestyle Digital Media is a true home for independent films.

In 2016, Entertainment Studios purchased The Grio, a video-centric digital community news platform dedicated to providing African Americans with compelling stories and perspectives currently under-represented in existing national media. TheGrio offers aggregated and original video packages, news articles and opinion pieces on topics such as breaking news, politics, health, business and entertainment. Originally launched in 2009, the platform was later purchased by NBC News in 2010. The digital platform remains focused on curating exciting digital content and currently has over 20 million annual visitors.

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SOURCE Entertainment Studios

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