Just days after revealing he would be a minority partner in Sinclair Broadcast Group’s purchase of 21 former Fox regional sports networks, media entrepreneur Byron Allen continued to add to his portfolio, agreeing to purchase Bayou City Broadcasting for $165 million, according to Entertainment Studios, Allen's television and film production company.
Allen, the chairman, CEO and founder of Entertainment Studios, will purchase the Bayou City stations -- WEVV (CBS) & WEEV (Fox) in Evansville, Indiana and KLAF (NBC) and KADN (Fox) in Lafayette, Louisiana -- through his company Allen Media Broadcasting. Bayou City was founded in 2008 by owner and CEO DuJuan McCoy who, like Byron Allen, is an African-American entrepreneur.
"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," Allen said in a press release.
Allen's Entertainment Studios include: broadcast television network affiliates, streaming services, broadcast television syndication, production and distribution of 43 television programs, nine 24/7 HD television networks, theatrical motion picture production, acquisition and global distribution, digital movie acquisition and distribution, and global news publishing.