Byron Allen’s Entertainment Studios Buys TheGrio

The purchase price is not being disclosed.

Tuesday, June 14, 2016 has turned out to be a momentous day for African-American-focused media properties. In addition to the revelation that Johnson Publishing recently sold Ebony and Jet magazines to a Texas-based firm, there was also the news that website TheGrio has a new owner.

From that announcement:

“We are excited to have TheGrio join Byron Allen’s ever-expanding Entertainment Studios media empire,” says David A. Wilson, co-founder and executive editor of TheGrio. “Byron shares our vision of growing TheGrio into the leading video content creator and distribution platform for African-Americans. We look forward to developing the next iteration of TheGrio, and the fact that it will remain 100 percent African American-owned is very significant.”

Per the illustration above, Allen’s company has a hand in a variety of different channels, all streaming in HD. Entertainment Studios was also an active bidder at this year’s Sundance Film Festival for the acclaimed drama Birth of a Nation.

TheGrio was created in 2009 by NBC and sold back to Wilson and partner Dan Woolsey in 2014.

H/T: Richard Prince / Journal-isms