Byron Allen Buying Bayou City TVs For $165M
Entertainment Studios Inc. today announced a deal to purchase Bayou City Broadcasting’s WEVV (CBS) and WEEV (Fox) in Evansville, Ind. (DMA103), and KLAF (NBC) and KADN (Fox) in Lafayette, La. (DMA 121) for $165 million. Allen is purchasing the station groups through his company, Allen Media Broadcasting.
Allen, who recently joined Sinclair Broadcast Group to acquire the Fox/Disney 21 regional sports networks for $10.6 billion, and also purchased The Weather Channel in 2018, has publicly stated he has been aggressively pursuing additional media assets.
The company said “the purchase of these four Bayou City Broadcasting entities … provides Allen’s television unit with a broader audience and strategically positions the company in broadcast and digital media.”
“Byron Allen is a visionary, and a brilliant entrepreneur who always gets it done,” said Bayou City Broadcasting Owner-President-CEO DuJuan McCoy. “Byron Allen’s companies, which exemplify excellence, are perfectly positioned to continue the strong tradition these stations have in serving their communities.”
“DuJuan McCoy is an outstanding broadcaster and he has done a phenomenal job of assembling a strong management team to operate these network affiliate stations,” said Allen. “This is another milestone for our company, as we have now agreed to purchase our very first broadcast television stations and continue to look for other opportunities to grow our global media company through strategic acquisitions.”