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Entertainment Studios acquires Weather Channel for $300 million

Byron Allen.
Byron Allen. Photo: Michael Kovac / WireImage

Entertainment Studios, the media company owned by former comedian Byron Allen, has acquired Weather Group, the Weather Channel's parent company, the L.A. Times reports.

Why it matters: The $300 million deal is the largest in Entertainment Studio's history, per the Times. It doesn't include Weather.com as "IBM purchased those assets from NBCUniversal...in 2015." The channel's popularity has fallen as people have started turning to apps more frequently for weather news.

Axios 11 hours ago
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💻 Americans want Big Tech regulation — 🇫🇷 Macron blasts Trump's foreign policy — 🏳️‍🌈 Vulnerable groups face health rule rollbacks

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Mike Allen 11 hours ago
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Big Tech's reprieve may be short

Tech companies got a brief reprieve after Mark Zuckerberg cleared the low bar for his two days of testimony on Capitol Hill earlier this month.

Reproduced from Inaugural Tech Media Telecom Pulse Survey, HarrisX; Chart: Axios Visuals

The big picture: But the chart above, from a poll by Stagwell's Harris X research consultancy (2,546 Americans polled online April 12-13, right after the Facebook hearings), shows Americans are far from satisfied with the status quo.