Byron Allen buys 7 Gray TV stations for $ 380 million – The Hollywood Reporter
Allen Media Broadcasting of Byron Allen acquired seven television stations from Gray Television for $ 380 million.
Gray split the TV channels in a separate deal to acquire Quincy Media for $ 925 million. Affiliates chosen by Allen Media include KVOA of NBC in Arizona, KWWL in Iowa and WREX in Illinois; ABC’s WKOW in Wisconsin, WSIL / KPOB in Kentucky / Illinois, and WAOW / WMOW in Wisconsin.
Each divested television station competes in a market where Gray also owns and operates a television station. Allen Media, which owns and operates local television channels in 12 markets, also owns 12 other networks, including The Weather Channel and the free local Now streaming service.
âI really appreciate Gray and Quincy, two of the best broadcast groups in the business, working with us to acquire and transfer these incredible assets. Over the past year and a half, we have invested nearly $ 1 billion to acquire the best-in-class affiliate broadcast networks, âsaid Byron Allen, Founder, President and CEO of Allen Media Group. in a report.
Allen added that his company plans to acquire more ABC, CBS, NBC and Fox television stations over the next two years.