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