Cord Cutters News

Your Local OTA TV Station May Have New Owners Today

Watching tv and using remote controlByron Allen’s Allen Media Broadcasting closed a deal this week to acquire 11 broadcast TV stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC.

The total deal had Allen Media Broadcasting, a division of Entertainment Studios, paying $305 million for the 11 stations. The stations include network affiliates for ABC, CBS, NBC, and FOX.

“These stations are dedicated to their local communities and this transaction will enable them to become even stronger on both their broadcast and digital platforms,” said USA Television CEO Robert Prather, Jr. in a press release.

“Over the past six months we’ve invested nearly $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” said Allen, founder, chairman and CEO of Entertainment Studios. “We plan to invest approximately $10 billion to acquire ABC, CBS, NBC and Fox television stations over the next three years with the goal of being one of the largest broadcast television groups in America.”

These are the stations acquired by Entertainment Studios in the deal.

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