Star Producer and comedian, Byron Allen, has made a major business move for his TV and film production company. Allen’s company, Allen’s Entertainment Studios Inc., has acquired The Weather Channel from Comcast Corp., Blackstone Group and Bain Capital. The $300 million purchase is part of Allen’s plan to expand his company in 2018.
Byron’s acquisition deal, however, does not include the online components of the channel such as the mobile application and the website. This is likely because The Weather Channel’s online assets were bought by International Business Machines Corp. back in 2016.
Here’s what Byron had to say about his decision to acquire the network:
‘Snowstorms, rain, mudslides, our lives and our families’ safety depend on this info. When a big storm happens, it’s the Super Bowl of weather. As many as 30 million people watch.
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