The 27-year-old Allen Media Group’s Entertainment Studios has acquired KITV from its private owners SJL Broadcasting for $30 million. The station broadcasts ABC content across Hawaii from its Honolulu base. Byron Allen founded Entertainment Studios in 1993 and has subsequently developed into the Allen Media Group which serves 160m subscribers through its affiliate TV stations and streaming services.
The company has grown through acquisition with this latest deal being the company’s sixteenth acquired station. Byron Allen says: “Over the past year, we’ve invested over $500 million to acquire best-in-class, top-tier, broadcast network affiliates. 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.”
