Byron Allen’s Entertainment Studios Acquires The Weather Channel
Los Angeles, CA – Entertainment Studios, Inc., (www.es.tv) one of the largest independent producers and distributors of film and television, with 41 shows on the air, and owner of eight 24-hour HD cable television networks reaching nearly 160 million aggregate subscribers nationwide, proudly announces its acquisition of the WEATHER GROUP, parent company of THE WEATHER CHANNEL television network and LOCAL NOW streaming service. Allen purchased the WEATHER GROUP through his company, Allen Media LLC, from The Blackstone Group, Bain Capital, and Comcast/NBCUniversal.
Allen’s expansion into live and local cable news is the latest step Entertainment Studios has taken in further expanding the global reach of its programming and content. The Entertainment Studios divisions now include: broadcast television syndication, production, and distribution of more than 41 programs, eight 24/7 cable television networks, theatrical motion picture production, acquisition and distribution, digital movie acquisition and distribution, and global news publishing – making Entertainment Studios one of the largest privately-held media companies in the world. Entertainment Studios is one hundred percent owned by Byron Allen, who started the company from his dining room table 25 years ago.
THE WEATHER CHANNEL is one of the largest cable television networks not owned by a major conglomerate, and ranks number one in weather news. Harris Poll has ranked THE WEATHER CHANNEL as the “TV News Brand of the Year” for eight years in a row, and the network is the nation’s most trusted resource for daily weather information. During the most recent 2017 hurricane season, THE WEATHER CHANNEL was the number one network for live coverage during Hurricane Harvey, while one in three American households followed Hurricane Irma on THE WEATHER CHANNEL.
“The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives,” said Byron Allen, Founder, Chairman, & CEO of Entertainment Studios. “We welcome The Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of The Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”
“We are excited to join Entertainment Studios, and we are especially proud to be part of one of the largest emerging global media companies,” said Dave Shull, CEO of THE WEATHER CHANNEL. “Byron Allen’s purchase of our innovative and forward-thinking organization will increase the value we bring to our viewers, distributors, and advertisers.”
Byron Allen’s acquisition of THE WEATHER CHANNEL through his wholly-owned Allen Media LLC was represented by the law firms Sklar Kirsh, Nelson Mullins, and Loeb & Loeb. THE WEATHER CHANNEL was represented in the transaction by the law firms Ropes & Gray and Jones Day, and its financial advisors included Morgan Stanley, Allen & Company, and PJT Partners.
About Entertainment Studios
Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Denver, and Raleigh. Entertainment Studios owns eight 24-hour HD cable television networks serving nearly 160 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. The company also produces, distributes, and sells advertising for 41 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 5,000 hours of owned content across multiple genres, Entertainment Studios provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web. Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.
