Byron Allen’s Entertainment Studios Buys Weather Channel For $300 Million
Comedian/Producer Byron Allen’s “Entertainment Studios” has bought The Weather Channel for a reported $300 million.
The Weather Channel was once owned by NBCUniversal along with private equity firms Bain Capital and Blackstone Group ten years ago for $3.5 billion.
Allen said that buying The Weather Channel is part of a strategic business plan to invest billions over the next couple of years to pick up even more media assets. “The Weather Channel is a great fit with our portfolio. We’re going to invest to provide weather news nationally and globally,” he stated.