Byron Allen To Buy Seven TV Stations

Media mogul Byron Allen is expanding his broadcast TV empire with a $380 million cash purchase of seven stations, including outlets in Tucson and Madison, Wis.

The L-A times reports Atlanta-based Gray Television Inc., struck a deal with Allen’s company because Gray must divest a handful of TV stations currently owned by Quincy Media Inc., to win federal approval for its $925-million takeover of a separate television company, Quincy Media.

The divestitures were required because Gray Television already operates a TV station in those seven markets.

The deal also includes stations that Quincy currently owns in Cedar Rapids, Iowa; Paducah, Ky.-Harrisburg, Ill.; La Cross-Eau Claire, Wis.; Wausau-Rhinelander, Wis.; and Rockford, Ill.

Byron Allen

“We are thrilled to facilitate the transfer of these fine Quincy television stations to Byron Allen and Allen Media Group, who we are confident will continue the strong commitments to journalism and localism that have distinguished these stations under Quincy’s outstanding stewardship,” Gray TV’s Executive Chairman and Chief Executive Hilton H. Howell said in a statement.

Allen Media Group, which was founded by Allen in 1993, also owns a dozen television channels, including the Weather Channel, a free streaming service called Local Now and local television stations. Among its portfolio are 16 television stations affiliated with the major networks, ABC, NBC, CBS and Fox. He owns a network affiliate in California that serves Chico and Redding. He also has a station in Eugene, Ore., and one in Honolulu.

“Over the past year-and-a-half, we’ve invested close to $1 billion to acquire best-in-class, top-tier, broadcast network affiliates,” Allen said in a statement. “We plan to invest approximately 10 billion dollars to acquire more ABC, CBS, NBC and FOX television stations over the next two years with the goal of being the largest broadcast television group in America.”

The station transaction is expected to be complete in the third quarter of this year.

Earlier this month, Allen launched Local Now, a streaming app that offers local news, weather, sports, traffic, movies and TV shows. The service is available through Roku, Apple TV, Amazon Fire TV, Android TV and Comcast’s Xfinity, among other providers. Technology will enable the company to target programming, including advertisements, to users based on their ZIP Codes.