Allen Media Group, an American media and entertainment company, agreed to acquire KITV, a broadcast television station, for $30m. "Over the past year we've invested over $500m to acquire best-in-class, top-tier, broadcast network affiliates. We plan to invest approximately ten billion dollars to acquire more ABC, CBS, NBC, and FOX television stations over the next two years with the goal of being the largest broadcast television group in America," Byron Allen, Allen Media Group Founder, Chairman and CEO.