Weather Channel sold

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Byron Allen’s Entertainment Studios has acquired The Weather Channel and its parent company, The Weather Group:

  • Entertainment Studios is anĀ independent producer and distributor of film and television, with 41 shows on the air, and owns eight 24-hour cable television networks
  • The company has acquired The Weather Group fromĀ The Blackstone Group, Bain Capital and Comcast-NBCUniversal
  • No purchase price was disclosed, but sources tell Deadline the deal was around $300 million
  • Blackstone Group, Bain Capital and Comcast-NBCUniversal paid a reported $3.5 billion for the former parent company of the network in 2008
  • At the time, the company was known at The Weather Company, but took on the name The Weather Group after selling its technology assets to IBM for a reported $2 billion in 2016, though the equity partners retained control of the cable network
  • The 2016 sale also included the network’s website,