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Byron Allen'S Allen Media Group Acquires Black News Channel

Jul 20, 2022•over 3 years ago

Acquiring Company

Byron Allen's Entertainment Studios

Acquired Company

BLACK NEWS CHANNEL

Los Angeles

Description

Byron Allen's Allen Media Group (AMG) is proud to announce that the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, (Case No. 4:22-bk-40087-KKS) issued an order approving the sale of "substantially all of" Black News Channel (BNC) "assets free and clear of all liens, claims, encumbrances and interests" to AMG's networks division. AMG is acquiring BNC out of bankruptcy for $11 million from billionaire Shahid Khan, owner of the NFL's Jacksonville Jaguars franchise. Khan invested over $100 million into BNC.

Company Information

Company

Byron Allen's Entertainment Studios

Location

Los Angeles, California, United States

About

Byron Allen's Entertainment Studios is a media company that produces and distributes television shows and films. The company focuses on creating original content across various genres. It operates a diverse portfolio of cable and broadcast television networks. Byron Allen has been a prominent figure in the media industry, known for innovative programming.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed