Comedian and entertainment mogul Byron Allen has announced his plans to acquire KITV, Honolulu’s ABC affiliate, from SLJ Broadcasting for $30 million, in a boost to the four big network affiliates in 12 markets that are owned and operate by his Allen Media Group.
Allen’s latest acquisition is part of a string of deals for which he plans to spend $10 billion over the next several years in becoming the nation’s biggest broadcaster, Deadline reported.
“Over the past year we’ve invested over $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” Allen said in a statement. “We plan to invest approximately $10 billion to acquire more ABC, CBS, NBC, and Fox television stations over the next two years with the goal of being the largest broadcast television group in America.”
Allen, who earlier this summer settled with media and entertainment giant Comcast over a racial bias suit he filed in 2015, has been rapidly growing AMG, making no secret of his desire to expand his already sizable media empire.