Shad Khan Becomes Majority Investor In Black News Channel
Jaguars Owner SHAD KHAN will be the "majority investor in the Black News Channel, which debuts on Nov. 15 to an estimated 33 million cable and satellite households in the U.S.," according to Garry Smits of the FLORIDA TIMES-UNION. The network, founded by former Oklahoma congressman J.C. WATTS, will be based in Tallahassee and "initially reach 14 markets," including N.Y., L.A., Atlanta, Chicago and New Orleans. It has "acquired affiliate distribution agreements with cable providers such as Comcast, Charter and Dish TV but may not be in every Comcast market on the launch date" (FLORIDA TIMES-UNION, 10/3). In N.Y., Richard Morgan notes Khan did not disclose the size of his investment in the Black News Channel, but a source said that it "exceeded" $25M (N.Y. POST, 10/3). In Jacksonville, Timothy Gibbons noted Watts will be the company's Chair. Co-Founder BOB BRILLANTE, who developed Sunshine Network (now FS Sun) and Florida's News Channel, "will be CEO" (BIZJOURNALS.com, 10/2).