Three months in the past, in a transfer a lot of his followers and followers didn’t see coming, media mogul Byron Allen acquired The Weather Channel for a reported $300 million.
Throughout the Black Enterprise Entrepreneur Summit in Charlotte, North Carolina, the Leisure Studios founder, chairman and CEO shared his motivation behind the huge acquisition, saying, “I don’t need to play in the negro league, I need to play in the international leagues.”
Certainly, The Weather Channel is a wonderful addition to his portfolio, as it’s the largest cable community not owned by a conglomerate and the first cable community inside the basic market owned by an African-American.
“I need to ship the message actually loud and clear that that’s a fantastic field, however I’m not in that field. I’m chasing trillions, not tens of millions.”
See Allen talk about the main cash transfer under.
— Black Enterprise (@blackenterprise) June 7, 2018