Byron Allen’s Entertainment Studios said it has agreed to acquire 11 TV stations from USA Television for $290 million.
The stations are network affiliates serving nine markets.
Allen, a performer turned media entrepreneur, previously bought The Weather Channel and Bayou City Broadcasting. He was also part of the Sinclair Broadcast-led group that acquires 21 Fox Regional Sports Networks from The Walt Disney Co. for $10.6 billion.
“This is another milestone for our company, as we have now agreed to purchase our second broadcast network affiliate station group within the past three months, and continue to aggressively look for other opportunities to grow our global media company through strategic acquisitions,” Allen said.
The stations, owned by USA Television Holdings LLC and USA Television MidAmerica Holdings are in markets ranging WAAY-TV, the ABC affiliate in Huntsville, Ala., (market 79) to WLFI-TV, the CBS affiliate in Lafayette, Ind., (market 188).
“I have known Byron Allen for decades and we are delighted that these stations will now be part of his dynamic company, and that Heartland management will continue to guide them,” said USA Television CEO Robert S. Prather, Jr. “These stations are dedicated to their local communities and this transaction will enable them to become even stronger on both their broadcast and digital platforms.”
The stations were acquired by Allen’s Allen Media Group unit. Allen was advised by RBC Capital Markets.
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