Multi-millionaire, Byron Allen will be purchasing BNC’s media rights out of bankruptcy from Pakistani trucking magnate Shahid Khan.
The Black News Channel (BNC) closed just a year after airing, where they reached millions of subscribers on digital and streaming platforms, but received horrid reviews from the Black community as a whole thanks to what many saw as liberal agenda driven reporting.
Allen will be utilizing his media venture, the Allen media group to facilitate the buyout.
“We are excited to have been selected to acquire the Black News Channel, which has approximately 300 million linear and digital subscribers,” said Byron Allen.
Khan claims that he invested over “$100 million” into the failed venture but was unable to make a clear turn around during 2021 where the company saw dwindling profits.
–Michael Lyles, B1Daily