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DESCRIPTION

The Weather Channel TV network was sold Thursday — to comedian-turned-media mogul Byron Allen. Allen’s Entertainment Studios Inc. bought the 36-year-old TV staple from the Blackstone Group, Bain Capital and Comcast. Terms of the sale were not disclosed, but sources pegged the price at about $300 million. Weather Channel chief executive Dave Shull said, “Byron Allen’s purchase of our innovative and forward-thinking organization will increase the value we bring to our viewers, distributors and advertisers.” Posted By Persist

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