Byron Allen’s Allen Media Group (AMG) is proud to announce that the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, (Case No. 4:22-bk-40087-KKS) issued an order approving the sale of “substantially all of” Black News Channel (BNC) “assets free and clear of all liens, claims, encumbrances and interests” to AMG’s networks division.
AMG is acquiring BNC out of bankruptcy for $11 million from billionaire Shahid Khan, owner of the NFL’s Jacksonville Jaguars franchise. Khan invested over $100 million into BNC.
AMG’s acquisition of BNC will add 300 million linear and digital subscribers to the AMG portfolio of assets — which includes 12 television networks such as The Weather Channel, digital platforms Local Now, HBCU GO, Sports.TV, theGrio Streaming App and The Weather Channel Streaming App. AMG has also invested over $1 billion in the last 3 years to acquire 27 ABC-NBC-CBS-FOX network affiliate broadcast television stations nationwide. Read more ate www.blackenterprise.com
