Posted on 03/23/2018 2:09:47 PM PDT by RightGeek
The Weather Channel TV network was sold Thursday — to comedian-turned-media mogul Byron Allen.
Allen’s Entertainment Studios Inc. bought the 36-year-old TV staple from the Blackstone Group, Bain Capital and Comcast.
Terms of the sale were not disclosed, but sources pegged the price at about $300 million.
The network and its digital property — weather.com — were purchased by the trio 10 years ago for $3.5 billion.
The web properties were sold to IBM in 2015 for $2 billion.
“The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives,” said Allen, who rose to fame as a “Real People” host in 1979. “The acquisition of the Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”
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Founded in 1993 by Allen, Entertainment Studios owns the HD cable networks JusticeCentral.tv, Cars.tv, Pets.tv and Recipe.tv.
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(Excerpt) Read more at nypost.com ...
And still I wear the wrong coat when I go out.
But this is really impressive about Byron Allen.
I always assumed he was the biggest joke and failure in show business.
It just goes to show you ...
Was it in the clinton years I heard Bain Capital ?
When I saw that he was described as a “mogul,” I knew he was black.
I have worked outside my whole life so weather is actually very important to me. I can get all the free weather apps on my phone I could want. Radars, forecasts, you name it.
I never watch the Weather Channel
Mitt Romney was connected to Bain Capital.
Same here, never thought he was funny, just annoying. I wish him the best.
Looked at his pic and still don’t know who he is.
So what is he going to do with weather channel, try to make weather funny, or make a comedy channel? Oh well...
I had not heard anything from Byron Allen in over 10 years.
Who knew that he was good with a dollar?
Some people are smart enough to save while the cash is flowing.
Byron was never a ‘hot ticket’ comic as I recall him. He’s the type of comic you would see hosting game shows ,awards ceremonies or as an opening -warm up act before the featured star came out. Pleasantly bland and mostly inoffensive.
Wasn’t he on Entertainment Tonight or some such crap?
I don’t think the Weather Channel is very popular here in SoCal. I’ve never seen it.
I remember him from Real People. He was successful . https://en.m.wikipedia.org/wiki/Byron_Allen
If it was my Daddy’s Store, I would revamp the morning segment. Stef and Jim, would be long gone. Plus, the Old Tornado forecaster.
Oh man! I’ve been saving up for that and only had about $73 more dollars to go.
Drat!
Maybe they will stop giving winter storms and blizzards “names”
I gave up on The Weather Channel, when they had the totally worthless, Al Roker on in the morning.
Hurricane Mo’Queeshiah is comin’ to town!
Gorebalwarming Central
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