LOS ANGELES—Byron Allen's Allen Media Group, LLC (AMG) division Allen Media Broadcasting has completed its $70 million cash acquisition of broadcast television station WJRT-TV, the ABC affiliate for the Flint-Saginaw, Michigan, television market.
With the closing of this purchase from Gray Television, Allen Media Broadcasting now owns and operates 32 broadcast television stations in 20 U.S. markets. AMG also owns 12 television networks including The Weather Channel and the free-streaming services Local Now and theGrio. AMG was founded by Byron Allen in 1993.
"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 Byron 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. All of our media assets will work in concert to amplify our free-streaming services, Local Now and theGrio."
Byron Allen has said that his Allen Media Broadcasting is planning to invest nearly $10 billion to acquire more ABC, CBS, NBC and Fox TV stations over the next two years. He says the goal is to become the largest broadcast television group in America.
