Byron Allen adds to his media empire

Media mogul Byron Allen added to his television empire this week when he signed a purchase agreement to buy Fox affiliate WCOV-TV for $28.5 million in cash. Allen purchased the station from David Woods and his Woods Communications Corporation and the acquisition is expected to close in 2022. Allen’s The Allen Media Group now owns 36 television stations in 21 markets with the acquisition of the Montgomery, Alabama, station.

“WCOV-TV is an excellent asset and has been extremely well-managed for decades by the Woods family, who I’ve known for over 35 years. Over the past two years, we’ve invested approximately $1 billion to acquire best-in-class, top-tier, Big 4 broadcast network affiliates and we plan to invest significantly more to acquire additional ABC, CBS, NBC, and FOX television stations with the goal of being the largest broadcast television group in America.

“All of our media assets work in concert to amplify our free-streaming services theGrio.TV, Sports.TV, HBCUGo.TV, The Weather Channel en Español, and Local Now,” the comedian-turned-business mogul explained in a statement.

The Montgomery deal follows The Allen Media Group’s acquisition of Honolulu-based KIKU-TV in September. In August, Allen Media Broadcasting completed its $380 million cash acquisition of 10 local television stations in seven markets divested from the Gray Television transaction with Quincy Media.

Allen, who purchased The Weather Channel back in 2018, also purchased Flint, Michigan’s ABC affiliate — WJRT-12 — from Gray Television for $70 million in a separate deal. In February 2020, he closed a deal to acquire 11 broadcast television stations from USA Television Holdings and USA Television MidAmerica Holdings for $305 million.

Allen Media Group was founded in 1993. The company began purchasing broadcast television assets in July 2019 with his acquisition of Bayou City Broadcasting, which included 4 television stations in Evansville, Indiana and Lafayette, Louisiana for $165 million.