Byron Allen does it again
The man known for making for real boss moves has done it again.
Byron Allen recently announced a new acquisition in partnership with Sinclair Broadcast Group, valued at a jaw dropping $10.6 billion.
On Friday, it was announced that Diamond Sports Group, a subsidiary of Sinclair, would be purchasing 21 regional sports networks (plus Fox College Sports) from Walt Disney Co, positioning Allen to become an equity and content partner in the venture.
“This is a very exciting transaction for Sinclair to be able to acquire highly complementary assets,” Chris Ripley, president and CEO of Sinclair said in a statement. Ripley added that although consumer viewing habits have shifted over the years, “the tradition of watching live sports and news remains ingrained in our culture.”
You may recall, Allen bought The Weather Channel for $300 million dollars last year and is no rookie to the world of making historically big moves. Allen was the youngest comedian to ever appear on The Tonight Show starring Johnny Carson. From there, Allen became the first African American to own seven television networks and the first African American to own a movie studio that distributes directly to theaters.
This latest move makes Allen the first African American to be a stake holder of a 10 billion dollar media acquisition.
“My position was that I would have to work 100 times harder to get the same thing as a white person,” Allen explained last December during a Variety sponsored diversity and inclusion panel in Los Angeles. “The lack of true economic inclusion for African Americans will end with me.”
We can hardly wait to see what Byron Allen does next.