Allen Media Broadcasting, a unit of Byron Allen’s Entertainment Studios, said it has completed its purchase of 11 television stations from USA Television for $305 million.
The deal was first announced in October. The stations include affiliates of the four major broadcast networks and are located in Alabama, Indiana, Oregon, California, Mississippi, Minnesota and Iowa and increases Allen Media’s broadcast holdings to about 15 stations.
Allen and Entertainment Studios have been an aggressive buyer of media properties over the past two years. In 2018 he purchased The Weather Channel for about $300 million, followed by Bayou City Broadcasting, a station group with four TV properties in Indiana and Louisiana for $165 million in July 2019. In August 2019, Allen personally partnered with Sinclair Broadcast Group in the latter’s purchase of 21 regional sports networks from The Walt Disney Co.
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“Over the past six months we’ve invested nearly $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” Allen said in a press release. “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.”
