BYRON ALLEN’S ALLEN MEDIA GROUP ACQUIRES BLACK NEWS CHANNEL
BLACK NEWS CHANNEL
(AMG) is proud to announce that the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, (Case No. 4:22-bk-40087- KKS) issued an order approving the sale of “substantially all of” Black News Channel (BNC) “assets free and clear of all liens, claims, encumbrances and interests” to AMG’s networks division. AMG is acquiring BNC out of bankruptcy for $11 million from billionaire Shahid Khan, owner of the NFL’s Jacksonville Jaguars franchise. Khan invested over $100 million into BNC.
subscribers to the AMG portfolio of assets -- which includes 12 television networks such as The Weather Channel, digital platforms Local Now, HBCU GO, Sports.TV, theGrio Streaming App and The Weather Channel Streaming App. AMG has also invested over $1 billion in the last 3 years to acquire 27 ABC-NBC-CBS-FOX network affiliate broadcast television stations nationwide.
Charter, Cox, DISH, DirecTV, and Verizon. BNC currently enjoys
approximately 45 million linear subscribers and Allen plans to grow
the distribution to approximately 80 million linear subscribers over the next 6 months.
subscribers,” said Byron Allen, Founder/ Chairman/CEO of Allen Media Group.
appreciate the opportunity to provide cable operators, satellite companies, telcos, and digital platforms diversity of ownership, voices, and viewpoints on their programming line-ups by having
a 100 percent African-American owned network.”
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