Bankrupt Black News Channel bought by media group for $11 million with plans to grow – By Christopher Cann (Tallahassee Democrat) / July 21, 2022
It’s unclear what the purchaser will do with Tallahassee headquarters and its millions of dollars in equipment.
The Black News Channel has been purchased by Allen Media Group, a cluster of media companies that includes the Weather Channel and HBCU GO . The sale comes more than three months after the channel suddenly shutdown and laid off 233 workers with less than a 24-hour notice.
The sale of substantially all of BNC’s assets for $11 million was approved by Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, on Wednesday.
“We are excited to have been selected to acquire the Black News Channel, which has approximately 300 million linear and digital subscribers,” said media mogul Byron Allen, the founder and CEO of the Allen Media Group in a prepared statement.
