Weather Channel sold to independent studio, distributor
The Weather Channel is under new ownership.
Entertainment Studios Inc. said Thursday that it's acquired the channel's parent company, Weather Group.
The independent movie and TV producer and distributor said in a news release that founder and owner Byron Allen purchased the company from the Blackstone Group, Bain Capital and Comcast-NBCUniversal.
Media outlets reported the purchase price as $300 million. Entertainment Studios declined to confirm the figure.
In a statement, Weather Channel CEO Dave Shull said Allen's ownership will benefit its viewers, distributors and advertisers.
Entertainment Studios owns seven TV channels, including Comedy.tv and Justice Central.tv, which are distributed online and by pay-TV providers.
It also owns TheGrio.com, a website devoted to African-American stories and issues.