Comedian Byron Allen Acquires the Weather Channel Network

The head of Entertainment Studios has added another network to his growing TV and film portfolio, this time with cable’s Weather Channel.

The acquisition comes with a $300M price tag, a considerably smaller amount than the $3.5B paid by Comcast and private equity giants Blackstone and Bain in 2008. The Weather Channel is a household name that has been a well-known brand since its inception in 1982. Allen announced his excitement over the acquisition in March as part of a plan for further strategic investing.