What Is The Net Worth Of Byron Allen?
Comedian and TV producer Byron Allen has a net worth of $800 million. Entertainment Studios is led by Byron Allen. Allen Media Group is his business (AMG). Hollywood’s most successful underdog is him. Allen acquired The Weather Channel in 2018. (not the website). He owns 12 cable networks and produces 70 US-wide TV shows through his two firms.
Early Life
Byron Allen Folks was born in Detroit on April 22, 1961. He’s from LA. Allen became interested in show business when he accompanied his mother, a publicist at NBC studios in Burbank, to work. He would sneak onto “The Tonight Show” set and play talk show host. Allen performed stand-up at amateur nights in Los Angeles comedy clubs. Allen’s stand-up routine pleased Jimmie Walker, who encouraged the 14-year-old to join his comedy writing team with Jay Leno and David Letterman. Allen debuted on “The Tonight Show Starring Johnny Carson” at 18. Allen is the show’s youngest standup comic.
Career
Byron was offered to co-host “Real People” after his successful one-night stint on “The Tonight Show”. While co-hosting “Real People,” he studied producing, directing, advertising, and the entertainment industry’s money. He used his free time networking with TV stations, sponsors, and behind-the-scenes people.
Allen and his mother launched Entertainment Studios in 1993. His debut series, “Entertainers with Byron Allen”, was a weekly, one-hour series highlighting the current stars of film and television. Allen was the first to own and launch six 24-hour HD television networks in 2009. The six networks include Pets.TV, Comedy.TV, Recipe.TV, Cars.TV, ES.TV, and MyDestination.TV.
Byron’s enterprises produce over 30 nationally syndicated programmes that earn $100 million annually. Entertainment Studios produces and distributes first-run syndicated content worldwide.
Revenue Model
He offers his shows away for free rather than charging networks exorbitant fees. Free. In exchange for giving the content away for free, Byron is given the right to sell 50% of the show’s available advertising time, which he subsequently sells directly. Due to his enormous number of shows, he can charge less for ad time while still reaching 35 million viewers, therefore advertisers are eager to acquire it. Byron controls Entertainment Studios 100%.
Relationships
In 2007, Allen married a television producer named Jennifer Lucas. Over the duration of their partnership, the couple has had three children together.
Comcast Suit
Byron filed a $10 billion racism claim against Comcast in 2020, ending a five-year battle. In February 2021 he withdrew his claim after a confidential settlement was struck. Three of his cable channels were carried by the community. Allen alleged racial prejudice caused Comcast to decline his channels. Comcast appealed the case to the Supreme Court. Three district courts had dismissed Allen’s suit before this. Byron sued AT&T and Charter Communications for not carrying African American-owned channels.
Revenues from TV Networks
Allen was the first to own and launch six 24-hour HD television networks in 2009. Pets.TV, Comedy.TV, Recipe.TV, Cars.TV, ES.TV, and MyDestination. According to “The Hollywood Reporter,” Byron’s enterprises create over 30 nationally syndicated programmes that generate over $100 million annually.
Acquisitions
Byron Allen’s business bought The Weather Channel for $300 million in 2018. The transaction included the cable TV network, but not online assets like Weather.com and its accompanying apps — which had already been previously sold to IBM.
In 2020, it was announced that AMG was acquiring an ABC affiliate in Honolulu for $30 million. The Hawaii-based affiliate covers all of the main islands, and it also has a portfolio that includes MeTV, Start TV, Heroes & Icons, and a Washington, D.C.-based news network. He bought 11 USA Television broadcast stations earlier this year. This deal was valued more than $300 million. Also in 2020, Allen teamed with the Sinclair Broadcast Group to acquire no fewer than 21 regional sports networks from Walt Disney/Fox. This deal was valued an incredible $10.6 billion.
Bayou City Broadcasting, which owns four Louisiana and Indiana stations, was purchased during this time. $165 million was the transaction. Tegna, a large broadcaster, has turned down Allen’s $8.5 billion all-cash offer. Over the last year, Byron invested $500 million in network affiliates, he revealed in 2020. Allen also said he will spend $10 billion over the next four years on acquisitions to become the nation’s largest broadcaster.
Byron’s business bought the bankrupt Black News Channel for $11 million in July 2022.
Property
Byron Allen bought a Maui oceanfront house for $22.8 million in 2018. The three-quarter-acre Kihei home has 130 feet of beachfront. The five-bedroom, 7,300-square-foot home was built in 2015. The interior is mahogany and the exterior coral stone. Elevator, 500-bottle wine storage, open-air spa, and 1,700 square feet of lanais are notable improvements. The site has a three-car garage and a pool. Maui’s most costly real estate deal was reported.
Bryon acquired a $20-million Beverly Hills mansion in 2019. It has eight bedrooms and 11,266 square feet. The Beverly Hills Flats home is on a third-acre site. Allen previously bought a smaller Hollywood Hills home. Fred Durst of Limp Bizkit owns this Birds Street property.
The media mogul bought a $26.75 million 3,000-square-foot apartment at 220 Central Park South in 2019. Three-bedroom unit in one of NYC’s most expensive residential towers.
Allen bought a $27-million Aspen mansion in 2020. A Mexican entrepreneur owned the 9,000-square-foot home. Byron bought the property for less than $35 million after the seller dropped the price. The home has an outdoor pool, walls of glass, and a second-story patio with mountain views.
Byron bought a 3.6-acre Malibu clifftop property for $100 million in October 2022. The property has an 11,000-square-foot main house with 8 bedrooms and 12 bathrooms and various guest and servant homes. The property was advertised for $127.5 million in May 2021. Public Storage millionaires Eric and Tammy Hughes Gustavson sold. Tammy’s late father Bradley Hughes, inventor of Public Storage, bought the property in 2003 for $20 million.
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