Who's Laughing Now? Former Comedian Byron Allen Purchases Weather Channel for $300M - NBC 6 South Florida

Who's Laughing Now? Former Comedian Byron Allen Purchases Weather Channel for $300M

    processing...

    NEWSLETTERS

    Enter for a Chance to Win a Perfect Haitian Honeymoon
    WireImage
    Byron Allen, founder and owner of Entertainment Studios, bought the Weather Group from the Blackstone Group, Bain Capital and Comcast-NBCUniversal, Entertainment Studios said.

    The Weather Channel is under new ownership.

    Entertainment Studios Inc., an independent movie and TV producer and distributor, said Thursday it's acquired the channel's parent company, Weather Group.

    Byron Allen, founder and owner of Entertainment Studios, bought the Weather Group from the Blackstone Group, Bain Capital and Comcast-NBCUniversal, Entertainment Studios said.

    "The Weather Channel is a phenomenal asset," Allen said in an interview. "It is the No. 1 weather news network in America. It's a network that's very important, that provides us information to protect our families and our lives."

    'Tina, She's Gay!' Harry Styles Helps Teen Come Out to Mom

    [NATL] 'Tina, She's Gay!' Harry Styles Helps Teen Come Out to Mom Mid-Concert

    What is a girl to do when she decides to come out to her mom? Get Harry Styles to help. The One Direction crooner decided to give "Grace" a hand after seeing her handmade sign that said "I'm gonna come out to my parents because of you!!!"

    (Published 5 hours ago)

    The purchase price for the channel and Local Now, a news streaming service, reportedly was $300 million. Entertainment Studios declined to confirm the figure.

    Bain, Blackstone and Comcast-NBCUniversal bought the Weather Channel Cos. from Landmark Communications in 2008 for a reported $3.5 billion. The new owners sold digital assets including the Weather.com website for a reported $2 billion-plus to IBM in 2015.

    Allen called the Weather Channel "an American treasure" that he intends to expand.

    "We're just honored to be able to own and take it to the next level," he said. "They're already doing great, we're just going to invest more to position it for greater success" domestically and internationally.

    Meteorologist Jim Cantore is among the familiar faces at the basic cable channel that's available in more than 80 million North American homes.

    In a statement, Weather Channel CEO Dave Shull said Allen's ownership will benefit its viewers, distributors and advertisers.

    'Late Night': Joel McHale Beat a Top 'Fortnite' Player

    [NATL] 'Late Night': Joel McHale Bested One of the World's Best 'Fortnite' Players

    Joel McHale talks about his upcoming wedding anniversary and how he bested one of the world's best "Fortnite" players. 

    (Published Wednesday, July 18, 2018)

    Entertainment Studios owns seven TV channels, including Comedy.tv and Justice Central.tv, which are distributed online and by pay-TV providers.

    It also owns TheGrio.com, a website devoted to African-American stories and issues.

    Allen said the purchase of the Weather Group was completed Thursday morning through his company Allen Media LLC.