Byron Allen is continuing to build his media empire with the acquisition of a new television station.
Allen Media Group announced that it has signed a purchase agreement for its acquisition of broadcast television station KITV, in Honolulu, from SJL Broadcasting for $30 million. KITV-ABC 4 also operates multiple satellite stations and translators to rebroadcast the station’s programming outside of metropolitan Honolulu. Those stations include KHVO-ABC 13 in Hilo, HI, and KMAU-ABC 12 in Wailuku, HI, which covers all of the Hawaiian islands.
“Over the past year we’ve invested over $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” said Allen, the founder, chairman, and CEO of Allen Media Group, in a written statement. “We plan to invest approximately ten billion dollars 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’s purchase of the Honolulu ABC Network Affiliate, KITV, increases the number of Big-Four network affiliate broadcast television stations owned and/or operated by his Allen Media Broadcasting to 16 stations that stretch across 12 U.S. broadcast television markets. MeTV, Hawaii TV, Start TV, and Heroes & Icons, as well as a Washington, DC-based news bureau and correspondent, is also included in the KITV portfolio of platforms is a carriage of 4 digital cable networks.
SJL Broadcasting is a privately owned American broadcasting company owned and operated by the Lilly Brothers’ Brian Lilly and Kevin Lilly.
“SJL is proud of the commitment of our KITV family to serve the Hawaiian community,” said SJL Broadcasting CEO, Brian Lilly. “Allen Media Group recognizes the investment in news and will build on our success.”
Allen owns Entertainment Studios, which produces more than 60 syndicated shows, along with The Weather Channel and seven more 24-hour cable TV networks. Allen is coming off of a $20 billion settlement with Comcast Cable that went all the way to the Supreme Court, where Allen lost by a unanimous 9-0 ruling.
Last month, Allen told the Hollywood Reporter in an interview he plans to buy CNN one day.