Byron Allen's Entertainment Studios Inc. acquired Weather Group LLC, parent company of The Weather Channel (US) and Local Now streaming service.
Allen bought the Weather Group through his company, Allen Media LLC, from The Blackstone Group, Bain Capital, and Comcast Corp. and its unit NBCUniversal Media LLC, according to a March 22 news release.
Financial details of the transaction were not disclosed.
The acquisition of The Weather Channel through his wholly owned Allen Media was represented by the law firms Sklar Kirsh, Nelson Mullins, and Loeb & Loeb. The Weather Channel was represented in the transaction by the law firms Ropes & Gray and Jones Day, and its financial advisers included Morgan Stanley, Allen & Co. and PJT Partners.
Entertainment Studios is an independent producer and distributor of film and television, with 41 shows on the air, and owner of eight 24-hour HD cable television networks.