29 Oct Allen Media Group Buys Two Networks From MGM
By Jill Goldsmith
The price wasn’t disclosed. The networks, a mix of MGM’s film and television content, are available through over-the-air, cable and online for free. This TV launched in 2008. MGM started Light TV, a lineup of family friendly and faith-based programming, in 2016 with Mark Burnett, chairman of MGM Television, and his wife, Roma Downey, president of MGM’s Lightworkers division.
The Light TV Network will be rebranded in March of 2021 as part of the agreement.
Allen Media Group’s expanding portfolio also includes The Weather Channel, Cars.TV, Comedy.TV and a handful of others focused on genres from entertainment and legal news to travel and pets.
“We are going to continue to invest a substantial amount of capital into the programming, marketing, and distribution of these networks. We are strong believers in broadcasting and free-streaming direct-to-consumer platforms,” said Allen, founder and CEO of Entertainment Studios/Allen Media Group.
Chris Ottinger, MGM’s President of World Wide Television Distribution & Acquisitions said, “Byron Allen is an innovator and has built a tremendous portfolio of networks within his organization. With a reach of over 81 million households, these networks will be great additions to his Allen Media Group.”
Entertainment Studios also owns 16 major network affiliate broadcast television stations and has said it plans to buy more. Other assets include The Grio, a digital video news platform aimed at African-Americans. Entertainment Studios Motion Pictures is a full-service, theatrical motion picture distributor.