Byron Allen’s Entertainment Studios Inc. has acquired the Weather Channel for $300 million.
The former comedian, now entrepreneur, continues to make major moves in the entertainment industry with this latest purchase of The Weather Group.
“The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives,” Allen statement.
“We welcome the Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of the Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”
The comedian-turned-entrepreneur founded Entertainment Studios in 1993. In 2009, he launched six 24-hour networks — Comedy TV, Cars TV, Recipe TV, Pets.TV, ES.TV and MyDestination.TV. The production company is also responsible for several movies, including “Hostiles”, “47 Meters Down” and “Chappaquiddick”.
The Weather Channel was established in 1982 and now includes shows such as “So You Think You’d Survive?” and “Hurricane 360”.