Three months ago, in a move many of his fans and followers didn’t see coming, media mogul Byron Allen acquired The Weather Channel for a reported $300 million.
During the Black Enterprise Entrepreneur Summit in Charlotte, North Carolina, the Entertainment Studios founder, chairman and CEO shared his motivation behind the massive acquisition, saying, “I don’t want to play in the Negro league, I want to play in the global leagues.”
Indeed, The Weather Channel is an excellent addition to his portfolio; it is the largest cable network not owned by a conglomerate and the first cable network within the general market owned by an African-American.
“I want to send the message really loud and clear that that’s a fine box, but I’m not in that box. I’m chasing trillions, not millions.”
See Allen discuss the major money move below.
— Black Enterprise (@blackenterprise) June 7, 2018
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Born and raised in Compton, California, Jessica Bennett began her career as an intern at The Oakland Post, and later, The Source Magazine. She went on to write for respected hip hop publications such as DJ Booth and Hip Hop DX before becoming the Urban Editor of pop culture website, Wetpaint.com. She joined Ebony as the Entertainment Editor August 2017. Bennett has interviewed such names as Vanessa Williams, Spike Lee, Tyra Banks, Forest Whitaker, Magic & Cookie Johnson and several others.