Comedian Byron Allen Buys the Weather Channel for $300 Million

[donnay]

There is a joke in here somewhere...

Comedian Byron Allen Buys the Weather Channel for $300 Million

By Christopher Palmeri
March 22, 2018, 12:45 PM EDT Updated on March 22, 2018, 3:30 PM EDT

Comedian and producer Byron Allen acquired the Weather Channel TV network as he looks to expand his film and TV production company into a major media business.

Allen’s Entertainment Studios Inc. bought the network from Blackstone Group, Bain Capital and Comcast Corp., according to a statement Thursday. The price was approximately $300 million, according to a person familiar with the terms who wasn’t authorized to speak publicly and asked not to be identified. That’s a fraction of what the larger company sold for a decade ago.

The deal includes the famous cable TV network, but not online assets such as the website Weather.com and related mobile apps, which were acquired by International Business Machines Corp. in January 2016. In an interview on a day in which rain and snow blanketed much of the U.S., Allen said he was attracted to the reach and familiarity of the brand.

“Snowstorms, rain, mudslides, our lives and our families’ safety depend on this info,” Allen said. “When a big storm happens, it’s the Super Bowl of weather. As many as 30 million people watch.”

Allen’s company produces and syndicates TV shows and has released films, such as last year’s thriller “47 Meters Down.” It also owns Comedy.tv and Cars.tv, which are distributed online and through pay-TV providers.

Allen said he want to invest more in the Weather Channel, expanding both its international and local distribution. It’s part of a broader strategy to invest what he said would be billions of dollars in the media and entertainment industry.

The Comcast-Blackstone-Bain-led group had purchased the Weather Channel in 2008 for about $3.5 billion. A spokesman for Blackstone declined to comment.

https://www.bloomberg.com/news/artic...or-300-million

[DamianTV]

How much money do people really need?

[kcchiefs6465]

How much money do people really need?

What business is it of yours?

[timosman]

What business is it of yours?

Maybe he has needs he is not aware of.

[DamianTV]

What business is it of yours?

But but but but but! But I want it!

[kcchiefs6465]

But but but but but! But I want it!

No I mean seriously. Why ask the question?

A guy I never heard of makes what is in my limited opinion a bad business decision and you offer the question of how much money is enough.

My answer to the question is that for every person that amount is different. If this person wishes to spend money or acquire money or hoard money or burn money, what business is it of mine?

[timosman]

No I mean seriously. Why ask the question?

A guy I never heard of makes what is in my limited opinion a bad business decision and you offer the question of how much money is enough.

My answer to the question is that for every person that amount is different. If this person wishes to spend money or acquire money or hoard money or burn money, what business is it of mine?

While this country has been built upon the foundation greed is good maybe it is time to start asking - can you be too greedy?

[DamianTV]

No I mean seriously. Why ask the question?

A guy I never heard of makes what is in my limited opinion a bad business decision and you offer the question of how much money is enough.

My answer to the question is that for every person that amount is different. If this person wishes to spend money or acquire money or hoard money or burn money, what business is it of mine?

The original question was intended to be rhetorical. Other than that, I fully agree with you. Its not my business what they do with it. Just more of a SMH at rich people in general blowing wads of cash on a patte that they cant tell the difference between a cheap can of cat food. The more power to em.

[timosman]

The original question was intended to be rhetorical. Other than that, I fully agree with you. Its not my business what they do with it. Just more of a SMH at rich people in general blowing wads of cash on a patte that they cant tell the difference between a cheap can of cat food. The more power to em.

They talk about taking your rights to free speech and bear arms. Why shouldn't we talk about limiting their ability to $#@! with us using money? I think a good starting point could be the US budget divided by the number of House Reps - c.a. $9.2B. This probably should not affect most of the people.

[merkelstan]

If vast sums of money change hands, it's generally worth looking-into, whether there's something crooked going on.

Not that it's proof that there's something crooked going on.

[brushfire]

But but but but but! But I want it!

If everything was based on need, would "man" still be in cave dwellings?

Living off the land, by hand, should be enough to provide for anyone's needs... Right?

How many kids does anyone need? Does anyone need a car or phone?

Advancement requires a yearning or desire for something more. Some might call these "wants".

Now choir, turn your hymn books to psalm...

[donnay]

Proverbs 10:2 (KJV)
“Treasures of wickedness profit nothing: but righteousness delivereth from death.”

Proverbs 13:11 (KJV)
“Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase.”

[Raginfridus]

There is a joke in here somewhere...


https://www.bloomberg.com/news/artic...or-300-million

He's found his audience...

[donnay]

He's found his audience...

Comical Fear-mongering.

Bombogenesis or Bomb cyclone? [Insert laugh track]

Winter Storm Riley? Really?

[Zippyjuan]

How much money do people really need?

Trump's is bigger.