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INDUSTRY FIRST

Byron Allen'S Allen Media Group Acquires The Free Streaming Service Hbcugo.Tv

Oct 27, 2021•almost 4 years ago

Acquiring Company

Taleverse Entertainment Studios, Inc.

Acquired Company

KirklandMedia And Entertainment

Description

Byron Allen's Allen Media Group, LLC (AMG) has acquired HBCUGo.TV from Symonds-Evans Media, LLC. HBCUGo.TV is the leading media provider for the nation's 105 Historically Black Colleges and Universities, (HBCUs). The acquisition expands AMG's reach to the African American community, cements its relationships with HBCUs and provides highly-rated, culturally significant content to national and global audiences. HBCUGo.TV is the latest in a series of asset-rich purchases by AMG geared to the African American market. AMG recently launched the over-the-air broadcast network theGrio.TV -- and owns the free streaming app and web digital platform theGrio.com -- to bring news, politics, health, entertainment, and relevant original content to viewers worldwide.

Company Information

Company

Taleverse Entertainment Studios, Inc.

Location

1210 5TH STREET

Kirkland, Washington, United States

About

Chairman and CEO Byron Allen founded Allen Media Group/Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Atlanta, and Raleigh. Allen Media Group owns 32 ABC-NBC-CBS-FOX network affiliate broadcast television stations in 20 U.S. markets and twelve 24-hour HD television networks serving nearly 180 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICE CENTRAL.TV, THEGRIO.TV, THIS TV, LOCAL NOW TV, and PATTRN. Allen Media Group will add its thirteenth network, THE WEATHER CHANNEL EN ESPANOL in 2022. Allen Media Group also owns LOCAL NOW and THE GRIO free-streaming AVOD services, powered by THE WEATHER CHANNEL and content partners, which delivers real-time, hyper-local news, weather, traffic, sports, and lifestyle information. Allen Media Group also produces, distributes, and sells advertising for 68 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. Allen Media Group International Television continues to extend its corporate branding and content around the globe. It currently has active license agreements and programming in South Africa, The United Arab Emirates, Australia, The Bahamas, Canada and New Zealand. With a library of over 5,000 hours of owned content across multiple genres, Allen Media Group provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web. Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.

FundzWatch™ Score

High M&A Activity

Related People

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