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New York
CNN
—
Byron Allen, who started his career in stand-up comedy, is now a media mogul with dozens of outlets including The Weather Channel. He recently added another network to his portfolio – Black News Channels.
Allen is buying the assets of a black news channel after bankruptcy court approved his $11 million takeover. Within 10 minutes of sending the money, Allen said he changed the station’s name to theGrio, the West African term for storytellers.
Allen, who owns 36 stations and 12 cable networks, wants the channel to be more inclusive, including its name.
“I never really thought it was a good idea, black news channels,” Allen said. “I don’t think we need a black news channel. I think we need a good news channel.”
CNN chief media correspondent Brian Stelter said on “Reliable News” Sunday that the network has always been a small start-up that has never been at the top of the ratings list, but that it is “making some great stuff.” .
Allen said the revived channel will focus on lifestyle, entertainment, news and sports. The channel will partner with historically black colleges and universities to license more than 2,000 sporting events that will air on theGrio.
“This will help us expand our sporting events,” Allen said. “And to help educate these kids in these schools.”
Allen stressed that ownership in the media industry lacks sufficient diversity — not just the underrepresentation of the black community.
“Women don’t own these networks, they don’t have control over their images and likenesses and how they’re made and portrayed,” Allen said. “As far as how we portray or even see them, Asians are almost non-existent in the media world. Many owners of Spanish-speaking networks don’t even speak Spanish.”
Allen said we cannot ensure “true democracy” until the voices of all these communities are heard.
He added that startups like black news channels need more support from corporate America. Even though major networks collect more than $1 billion a year from cable subscription fees, black news channels make zero revenue. Allen also said the channel made less than $2 million in advertising revenue.
“That means the chairman and CEO of every Fortune 500 company, their personal compensation, is more than all the ads on black news channels,” Allen said.
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