By Stephen Brown: @SteveBTech is a Technology Entrepreneur, Programmer, & CES Judge. Along with being the founder of DigitalAfro.com, he is the founder of DigiLyfe Magazine , Nubby.co, & StemStars.org an organization that teaches K-12 Students Science & Technology.
The Atlanta-based Weather Channel is reportedly coming under a new umbrella.
Media mogul Byron Allen made a deal through his Los Angeles-based Entertainment Studios to buy the television network and Local Now streaming service, but not its digital networks. Terms of the deal were not reported, though the Hollywood Reporter cited a source estimating the deal in the $300 million range.
The Blackstone Group, Bain Capital and Comcast/NBCUniversal (NASDAQ: CMCSA) bought the Weather Channel in 2008 from Landmark Communications, reportedly for nearly $3.5 billion.
The Weather Channel, which first aired in 1982, is one of the largest cable television networks not owned by a major conglomerate, and ranks number one in weather news. Harris Poll has ranked the channel as the “TV News Brand of the Year” for eight years in a row, as it has been known over the years for its skillful coverage of local and national severe weather. It has made meteorologists such as Jim Cantore household names. The station also features TV series such as American Super/Natural, Highway Thru Hell and Hurricane 360.
The Hollywood Reporter said the channel’s rating rose 14 percent in 2017, as hurricanes and fires dominated headlines.
The deal reportedly does not include digital assets such as Weather.com, Weather Underground and its Weather Channel app.
“We are excited to join Entertainment Studios, and we are especially proud to be part of one of the largest emerging global media companies,” said Dave Shull, CEO of The Weather Channel. “Byron Allen’s purchase of our innovative and forward-thinking organization will increase the value we bring to our viewers, distributors and advertisers.”
In December, real estate investment firm Rubenstein Partners purchased the Weather Channel headquarters in Atlanta for $18 million.
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