LOS ANGELES, Aug. 17, 2020 /PRNewswire/ — Byron Allen’s Allen Media Group division Allen Media Broadcasting is proud to announce it has signed a purchase agreement for its acquisition of broadcast television station KITV from SJL Broadcasting for $30 million. As with other major television stations in Hawaii, KITV-ABC 4 also operates multiple satellite stations and translators to rebroadcast the station’s programming outside of metropolitan Honolulu – including KHVO-ABC 13 in Hilo, HI and KMAU-ABC 12 in Wailuku, HI – to cover all of the Hawaiian islands.
Allen’s purchase of KITV increases the number of Big-Four network affiliate broadcast television stations owned and/or operated by his Allen Media Broadcasting to 16 stations across 12 U.S. broadcast television markets. Also included in the KITV portfolio of platforms is carriage of 4 digital cable networks: MeTV, Hawaii TV, Start TV, and Heroes & Icons, as well as a Washington, DC-based news bureau and correspondent.
In February 2020, Allen closed the deal to acquire 11 broadcast television stations from USA Television Holdings and USA Television MidAmerica Holdings for $305 million. In August 2019, Allen personally partnered with the Sinclair Broadcast Group to acquire 21 Regional Sports Networks (RSNs) from Walt Disney/FOX for $10.6 billion. Allen’s purchase of broadcast television assets began in July 2019 with his acquisition of Bayou City Broadcasting, which included 4 television stations in Evansville, Indiana and Lafayette, Louisiana for $165 million. In March 2018, Allen acquired The Weather Channel, serving Americans for nearly four decades, and voted the most trusted news network for ten consecutive years.
“Over the past year we’ve invested over $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” said Byron Allen, Founder/Chairman/CEO of Allen Media Group. “We plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America.”
“SJL is proud of the commitment of our KITV family to serve the Hawaiian community,” said SJL Broadcasting CEO, Brian Lilly. “Allen Media Group recognizes the investment in news and will build on our success.”
SJL Broadcasting is a privately owned American broadcasting company owned and operated by the Lilly Brothers’ Brian Lilly and Kevin Lilly.
About Entertainment Studios / Allen Media Group
Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, and Raleigh. Entertainment Studios owns 16 U.S. Big-Four network affiliate broadcast television stations and nine 24-hour HD television networks/streaming services serving nearly 160 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. Entertainment Studios will add its tenth network, THE WEATHER CHANNEL EN ESPANOL in 2021. Entertainment Studios also owns the LOCAL NOW streaming service, powered by THE WEATHER CHANNEL and content partners, which delivers real-time, hyper-local news, weather, traffic, sports, and lifestyle information. Entertainment Studios also produces, distributes, and sells advertising for 67 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. Entertainment Studios International Television continues to extend the ES corporate branding and content around the globe. It currently has active license agreements and programming in South Africa, The United Arab Emirates, Australia, The Bahamas, Canada and New Zealand. 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.
Entertainment Studios Motion Pictures is a full-service, theatrical motion picture distribution company specializing in wide release commercial content. ESMP released 2017’s highest-grossing independent movie, the shark thriller 47 METERS DOWN, which grossed over $44.3 million. In 2018, ESMP also released the critically-acclaimed and commercially successful Western HOSTILES, the historic mystery-thriller CHAPPAQUIDDICK and the sequel to 47 METERS DOWN, 47 METERS DOWN: UNCAGED. The digital distribution unit of Entertainment Studios Motion Pictures, Freestyle Digital Media, is a premiere multi-platform distributor with direct partnerships across all major cable, digital and streaming platforms. Capitalizing on a robust infrastructure, proven track record and a veteran sales team, Freestyle Digital Media is a true home for independent films.
In 2016, Entertainment Studios purchased TheGrio, a digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. TheGrio features aggregated and original video packages, news articles and opinion pieces on topics that include breaking news, politics, health, business and entertainment. Originally launched in 2009, the platform was then purchased by NBC News in 2010. The digital platform remains focused on curating exciting digital content and currently has more than 20 million annual visitors.
For more information, visit: www.entertainmentstudios.com
SOURCE Allen Media Group
Credit: Source link