Allen Media Group Looking to Buy Black News Channel

[Y2kTheNewOldies]

https://www.cablefax.com/programming/new-home-allen-media-group-looking-to-buy-black-news-channel

Note Allen Media is in talks to get the rights to Black News Channel for $11 Million as of this posting. For now this is in talks.

 

[Will_H_69_9]

so Byron Allen gonna try to save BNC after Shad Khan bailed over it and rather focus on his other ventures like the Jaguars, Fullham FC, Flex-N-Gate and of course AEW (which he's co-owns with his son Tony, who is the main man in charge of it as well as his recently acquired ROH Wrestling).

 

[Megatron]

Seems that any buyer that wants BNC has bailed at the last minute on buying BNC.

 

[Y2kTheNewOldies]

https://tvnewscheck.com/business/article/allen-media-group-acquires-black-news-channel/

Here is more to the deal.

Byron Allen’s Allen Media Group (AMG) said today that the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, issued an order approving the sale of “substantially all of” Black News Channel “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 more than $100 million into BNC.

AMG said its acquisition of BNC will add 300 million linear and digital subscribers to the AMG portfolio of assets, which includes 12 television networks. AMG has also invested over $1 billion in the last three years to acquire 27 ABC, NBC, CBS and FOX network affiliates.

BNC has carriage on traditional linear packages via Comcast, Charter, Cox, Dish, DirecTV and Verizon with approximately 45 million linear subscribers and AMG said it plans to grow the distribution to approximately 80 million linear subscribers over the next 6 months.