Allen has vowed to spend $10 billion buying stations to create one of the largest U.S. broadcast groups.
With the purchase of WJRT, Allen Media Group now owns 32 broadcast stations in 20 U.S. markets. In August Allen completed the purchase of 10 stations from Gray for $380 million in cash.
Allen is reportedly among the bidders who have made offers for Tegna. Allen Media Group had no comment on Tegna.
In addition to the TV stations Allen Media Group owns 12 television networks including The Weather Channel.
“We are delighted and very appreciative to Gray for working with us to add this wonderful local television station, WJRT-TV, and its great employees, to our fast-growing Allen Media Group family,” said Allen, founder, chairman and CEO of Allen Media Group.
“Over the past two years, we've invested over $1 billion to acquire best-in-class, top-tier, broadcast network affiliates and we plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and Fox television stations with the goal of being the largest broadcast television group in America," he said. "All of our media assets will work in concert to amplify our free-streaming services, Local Now and theGrio.”
Allen, a comedian and television host, founded Allen Media Group and Entertainment Studio in 1993. The company became a large independent producer and distributor of first-run syndicated television programming for broadcast television stations before it started acquiring broadcast station and cable network assets.
Jon has been business editor of Broadcasting + Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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