Black News Channel has a new owner. Byron Allen’s Allen Media Group has purchased the news network. The network, which was in bankruptcy, was acquired by AMG for $11 million.
The Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court, issued an order approving the sale of “substantially all of” Black News Channel “assets free and clear of all liens, claims, encumbrances and interests” to AMG’s networks division.
“We are excited to have been selected to acquire the Black News Channel, which has approximately 300 million linear and digital subscribers,” said Byron Allen, founder/chairman/CEO of Allen Media Group.
He added, “Allen Media Group will deliver a best-in-class network to serve the underserved African-American community—and the advertisers who want to reach this extremely valuable audience. Also, we appreciate the opportunity to provide cable operators, satellite companies, telcos and digital platforms diversity of ownership, voices and viewpoints on their programming line-ups by having a 100 percent African-American-owned network.”
Black News Channel was shut down in March after the previous owner, Jacksonville Jaguars and billionaire businessman Shad Khan decided he no longer wanted to invest in the news organization. Khan, who was also the majority shareholder, had already invested $50 million into BNC when he decided to pull the plug.
It was co-founded in 2019 by former U.S. Rep. J.C. Watts (R-Okla.)—who serves as its chairman—and Florida media executive Bob Brilliante. It reached more than 52 million U.S. homes via linear agreements with Cox, Comcast/Xfinity (Ch. 1116), DirecTV (Ch.342), Charter/Spectrum, Dish (Ch.360) and Verizon Fios (Ch. 612).
Black News Channel also featured a streaming product, BNC Go, which hosted original content separate from the linear channel offerings. However, neither the linear nor streaming platforms were able to earn a significant audience.
The news network joins an ever-growing list of media properties owned by Byron Allen and AMG, including The Weather Channel and The Weather Channel Streaming app.
No timetable has been given regarding when BNC will be relaunched and what the programming will consist of.