by Cedric ‘BIG CED’ Thornton
August 10, 2025
Grey Media bought the native TV stations.
Grey Media has introduced the acquisition of 10 tv stations from Byron Allen’s Allen Media Group.
The corporate acknowledged that the transaction to accumulate the stations was for $171 million. With the current acquisitions, Grey Media is coming into three new markets: Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana. This can even permit Grey Media to strengthen its service to viewers within the seven different markets.
The tv stations to be offered are: Huntsville, AL, WAAY (ABC); Paducah, KY-Cape Girardeau, MO-Harrisburg-Mt. Vernon, IL, WSIL (ABC); Evansville, IN, WEVV (CBS/FOX); Ft. Wayne, IN, WFFT (FOX); Montgomery, AL, WCOV (FOX); Lafayette, LA, KADN (FOX/NBC); Columbus-Tupelo, MS, WTVA (ABC/NBC); Rockford, IL, WREX (NBC); Terre Haute, IN, WTHI (CBS/FOX); West Lafayette, IN, WLFI (CBS).
The transaction between the 2 corporations sis anticipated to be accomplished by the tip of the 12 months.
This transaction takes place two months after Allen settled a $10 billion lawsuit in opposition to fast-food retailer McDonald’s. The events didn’t disclose the quantity for which the go well with was settled. The 2 corporations got here to an settlement earlier than the scheduled trial. The entrepreneur sued the company over the corporate’s alleged refusal to promote with Black-owned corporations.
Allen launched an announcement in regards to the settlement between the 2 companies.
“We’re happy to discover a decision that maintains our enterprise relationship,” Allen stated in a written assertion. “In the course of the course of this litigation, a lot of our preconceptions have been clarified, and we acknowledge McDonald’s dedication to investing in Black-owned media properties and rising entry to alternative. Our variations are behind us, and we stay up for working collectively.”
Three years in the past, the entrepreneur positioned a $10 billion bid to purchase Disney’s ABC Community, in response to Bloomberg. The deal didn’t undergo. Nonetheless, lower than two years in the past, Allen additionally put in a bid to convey the BET Community again below Black possession, however the father or mother firm, Paramount, determined to not promote BET to anybody.
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