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Macro, the multi-platform entertainment company founded by Charles D. King, has acquired Allblk, the streaming distribution platform dedicated to Black audiences, from AMC Global Media.
“At a time of significant disruption
and consolidation across the media industry landscape, Macro sees an opportunity to invest in a focused platform with a clear audience and strengthen it through greater resources, content and creative partnerships,” King said in a statement about the deal, which marks Macro’s entry into direct-to-consumer streaming.
“From the beginning, our vision for Macro has been to create a vertically integrated media company that can support storytellers and audiences across a variety of value chains,” King continued. “Allblk adds an additional piece to that vision with this opportunity to build upon what has made the platform successful. We’re proud of our longstanding partnership with AMC Global Media and excited to lead Allblk into its next chapter.”
King led the acquisition effort alongside Macro’s executive VP of strategy & operations, Bobby Singh, and chief financial officer, Jaime Rigal.
Macro intends to invest in Allblk’s next phase of growth, a press release explains, through “new original programming, broader creative collaboration across its studios and network and a strong focus on audience development and community engagement to deepen the platform’s relationship with its core viewers and strengthen its long-term value.” The Allblk platform will continue to operate independently, carrying foward its existing slate and content library — which includes original series, indie films, nostalgic Black cinema, stage plays and more — so there will be no interruption for current subscribers.
“Allblk has had a fantastic year, establishing a strong foundation for continued growth under the stewardship of Macro, a strategic partner in which we’ve been an investor for nearly a decade,” said AMC Global Media CEO Kristin Dolan. “Charles and the entire team at Macro bring the expertise to further Allblk’s strong trajectory. They have a great vision for Allblk and I’m particularly pleased that we will continue to be involved as investors and through a new content licensing agreement between our companies that will serve these passionate fans for years to come.”
Lazard and Lydian Strategy acted as financial advisors to Macro. Paul Hastings LLP represented Macro as legal counsel, while Hughes Hubbard & Reed LLP represented AMC Global Media.
