Byron Allen Acquires Black News Network Before Auction
Written by Tariq on July 22, 2022
Byron Allen is set to acquire the Black News Network for $11 million. According to Cablefax, Allen was the only bidder for the Black News Network, stationed in Tallahassee, Florida. This led to the U.S Bankruptcy Court in Northern District of Florida to cancel the upcoming auction for the network.
BNC had been shut down in March 2022 by the previous owner, billionaire Shad Khan. The NFL Jacksonville Jaguars owner, invested $100M into the company and assessed it had not lived up to financial expectations. Allen, the founder, chairman, and CEO of Allen Media Group, expressed that AMG will do its best to deliver quality programming for the Black community. Click Here To Read More.
Source: Vibe
