TV Mogul Byron Allen Could Be the First Black NFL Team Owner

Byron Allen, owner of numerous television networks, is aiming to buy the Denver Broncos. What's his net worth?

Kathryn Underwood - Author

Feb. 9 2022, Published 10:35 a.m. ET

Byron Allen
Source: Getty Images

Byron Allen, the 60-year-old television entrepreneur who got his start in entertainment as a stand-up comedian, is eyeing yet another lucrative acquisition. Allen is the CEO and chairman of Allen Media Group (AMG), which owns numerous television networks, including The Weather Channel and over 20 regional sports networks. What's Byron Allen’s net worth?

Article continues below advertisement
Article continues below advertisement

Byron Allen

Television executive, producer, comedian

Net worth: $450 million

Byron Allen learned the ins and outs of the television industry as a child tagging along with his mother, an NBC Studios publicist. As a teenager, Allen developed a stand-up comedy routine, eventually joining the writing team of comedian Jimmie Walker. He appeared on The Tonight Show Starring Johnny Carson at age 18, in what was the youngest comedy debut ever. He founded entertainment studios that now own multiple broadcasting networks.

Birthdate: April 22, 1961

Spouse: Jennifer Lucas

Allen has spent over four decades in the entertainment business

Allen launched his comedy career with an impressive appearance on Johnny Carson’s show at age 18. That led to a gig hosting a talk show, Real People.

Article continues below advertisement

Then, in 1993, Allen co-founded Allen Media Group, also called Entertainment Studios, with his mother, Carolyn Folks. The company owns several studios and networks, including twelve HD networks with 24-hour programming. It purchased The Weather Channel in 2018 for $300 million.

byron allen family
Source: Getty Images

Allen with his wife, Jennifer Lucas, four children, and mother, Carolyn Folks.

Article continues below advertisement
Article continues below advertisement

AMG also owns 36 ABC-NBC-CBS-FOX network affiliate broadcast television stations over 21 U.S. markets. Other major acquisitions and endeavors by Allen and AMG include:

  • 2015: Acquired Freestyle Releasing (now Entertainment Studios Motion Pictures).

  • 2016: Acquired The Grio (digital video-focused news platform targeted to African-Americans).

  • 2019: Announced The Weather Channel en Español, to launch in 2022.

  • 2020: Acquired Honolulu affiliate KITV.

  • 2021: Acquired most of Gray Television's facilities for 23 network affiliate stations (ABC, NBC, CBS, Fox).

Allen was awarded a star on the Hollywood Walk of Fame in Oct. 2021. He also brought a lawsuit against Comcast for alleged racial discrimination after Comcast declined to carry his channels, Pets.TV, Cars.TV, and Comedy.TV. In March 2020, Comcast won in the Supreme Court case.

Article continues below advertisement
allen premiere
Source: Getty Images

Allen with actors Jason Clarke and Ed Helms at the 2018 premiere of his studio's film, "Chappaquiddick."

Article continues below advertisement

Byron Allen wants to purchase the Denver Broncos

Allen has stated his intention to bid on the Denver Broncos. The NFL team is up for sale following a right of first refusal issue in court. As reports, Allen said, “After serious consideration, I strongly believe I can effectuate positive changes throughout the league. And for that reason, I will be making a bid for the Denver Broncos.”

Article continues below advertisement

The asking price for the team isn’t known yet, but the Denver Post reported its most recent estimated value by Forbes was $3.75 billion. Allen will have to manage 30 percent of the purchase price without partners or debt in order to become the first Black majority owner of an NFL franchise.

Byron Allen owns multimillion-dollar real estate

Allen has bought a lot of high-end real estate, including a $22.8 million oceanfront property on Maui in 2018. In 2019, he purchased a $20 million Beverly Hills home and a Central Park South apartment for $26.75 million. He added an Aspen, Colo., mansion for $27 million in 2020 as well.


Latest Net Worth News and Updates

    Opt-out of personalized ads

    © Copyright 2024 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.