As many in the northeast check the Weather Channel every now and then for updates on the current snowstorm, they may notice that the channel is under new ownership. Bryson Allen Entertainment Studios has bought The Weather Channel in a deal that is valued at approximately $300 million.
Bryson Allen Entertainment Studios is also buying the entire Weather Group. The Weather Group, previously owned by Comcast and Blackstone & Bain, is the parent company of The Local Now streaming service and The Weather Channel. The digital operations of The Weather Channel were purchased by IBM back in 2015 at $2 billion.
Bryson Allen Entertainment Studios has pushed further into the realm of television and film over the past few years. Last year, the Entertainment Group released 47 Meters Down and Hostiles with respectable success.
Bryson Allen, the namesake of the group, said, “We welcome the Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of the Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.” In response, Dave Shull of The Weather Channel praised Allen and his team by saying, “Byron Allen’s purchase of our innovative and forward-thinking organization will increase the value we bring to our viewers, distributors, and advertisers.”
