Byron Allen, founder and CEO of theGrio‘s parent company Entertainment Studios, is steadily adding on to his already impressive portfolio with his latest purchase of 11 television stations from USA Television. The $290 million deal has the entertainment mogul acquiring the small-market network affiliates, which are spread out all over the country.
“I have known Byron Allen for decades and we are delighted that these stations will now be part of his dynamic company, and that Heartland management will continue to guide them,” said USA Television CEO Robert S. Prather, Jr. “These stations are dedicated to their local communities and this transaction will enable them to become even stronger on both their broadcast and digital platforms.”
“Bob Prather is an excellent broadcaster and he has done a brilliant job of assembling a stellar management team to operate these very strong network affiliate broadcast stations,” said Allen. “This is another milestone for our company, as we have now agreed to purchase our second broadcast network affiliate station group within the past three months, and continue to aggressively look for other opportunities to grow our global media company through strategic acquisitions.”
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