Tiffany Haddish assists Byron Allen in raising money to benefit Children’s Hospital at Beverly Hills Oscar Bash.

Just days after hosting his company’s annual Oscar Gala to benefit Children’s Hospital to the tune of $1.5 million, Byron Allen, founder, and CEO of Entertainment Studios Networks has officially completed the purchase of 11 broadcast television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC (collectively, USA TV).

Allen Media Broadcasting, a division of Entertainment Studios, closed the $305 million deal on Tuesday February 11. The move signifies a commitment by Allen to expand his company’s broadcast holdings (which include The Weather Channel, theGrio and JusticeCentral.TV), reported Deadline.

In July 2019, the black media mogul acquired four local TV stations from minority owned Bayou City Broadcasting for $165 million. With this latest transaction, Allen Media has positioned itself to be the nation’s top African American owners of local TV stations.

CEO Byron Allen and Judge Kevin Ross at Entertainment Studios’ 2020 Oscar Gala.

“Over the past six months we’ve invested nearly $500 million to acquire best-in-class, top-tier, broadcast network affiliates,” Allen said. “We plan to invest approximately $10 billion to acquire ABC, CBS, NBC and Fox television stations over the next three years with the goal of being one of the largest broadcast television groups in America.”

For additional details on the story and the station’s purchased, click here.