Funnyman Byron Allen Buys the Weather Channel for $300 Million

[NCTraveler]

(Bloomberg) -- Comedian and producer Byron Allen acquired the Weather Channel TV network as he looks to expand his film and TV production company into a major media business.

Allen’s Entertainment Studios Inc. bought the network from Blackstone Group, Bain Capital and Comcast Corp., according to a statement Thursday. The price was approximately $300 million, according to a person familiar with the terms who wasn’t authorized to speak publicly and asked not to be identified.

The deal includes the famous cable TV network, but the online assets such as the website Weather.com and related mobile apps, which were acquired by International Business Machines Corp. in January 2016.

https://www.msn.com/en-us/money/companies/funnyman-byron-allen-buys-the-weather-channel-for-dollar300-million/ar-BBKzqY7?li=BBnbfcL

[TheDebbieDee]

1. Byron Allen IS NOT FUNNY!

[underpants]

2. But he's a Real People

and worth $400 million

[yallerdawg]

7. I remember him from that show, just a kid, really!

He done good, no doubt about it!

[blake2012]

11. He wasnt bad.

[patricia92243]

3. That is a small amout for a station that sold for $3.5 billion just a few years ago, I wonder

what is the matter that it could be sold for such a low price.

[NCTraveler]

4. They might have sold off some assets since them.

Complete guess on my part.

[bigbrother05]

5. Note that Bain was part of the buying group at that time

They always overpay with debt that is loaded on the company. Then they sell off the profitable parts, pocket the gains then leave the carcass to rot. Typical rMoney tactics that leave the hollowed out property available for a pittance.

[drbtg1]

6. Your link caused my antivirus program to block it

Just thought you should know

[NCTraveler]

12. Interesting. I've never had an issue with an msn link. This one included. nt.

[drbtg1]

13. I didn't have a problem with msn before either.

Maybe there was a dubious link from an advertiser on their page, I'm not sure. But with all the sketchy Facebook/CA stuff going on, I thought it should be noted.

[FarCenter]

8. Maybe Verizon will carry it again, if Comcast is no longer an owner.

[Kirk Lover]

9. He used to have a late night talk show - pre cable days - at least in my household.

Who would of ever thought that Byron got it like that!
And no he was not particularly funny..but he's one helluva business man.

[Blue_Tires]

10. I read somewhere years ago Allen was sitting

on a mountain of money far beyond the realm of his real-world successes...

But I didn't know he had it like THAT!

[Awsi Dooger]

14. Allen a good guy

I used to see him down in the stacks of the Doheny Library at USC in the early '80s, studying diligently all by himself and always in the same spot. I talked to him briefly a couple of times.

He was already well known, at least to the point that I recognized him. I don't remember if it was a local show or national.