Black media mogul Byron Allen has invested a 10.7% stake in Starz, according to Deadline. Allen’s Media Group includes 28 stations affiliated with ABC, NBC, CBS, and Fox, operating in 21 US markets. In 2025, Byron Allen announced that it was selling local television stations owned by his Allen Media Group (AMG), and Moelis & Co. is managing the deal. Allen said in a statement that it needed to pay its debt. “We have received numerous inquiries and written offers for most of our television stations, and now is the time to explore getting
Pat McGrath Labs is being marketed to prospective buyers through bankruptcy proceedings, only days after GDA Luma said it had secured a controlling stake, The Business of Beauty reports. A bankruptcy judge chose Gordian Group as Pat McGrath Labs’ investment bank, which is seeking an “investment and acquisition opportunity” for the brand, as stated in a presentation viewed by BoF. Pat Mcgrath looking for a new investment During the presentation, prospective buyers were told that any transaction must repay debtor-in-possession claims totalling over $60 million, with an additional estimated $70 to
Makeup artist label Pat McGrath Labs has secured a $30 million financing package from the financial firm GDA Luma, according to Business of Fashion. The company filed for bankruptcy in a Miami court earlier this year to restructure its debts. The debt came from a loan obtained in April 2025 from GDA, according to the filings. The package was approved by a Miami, Florida bankruptcy court, which approved $10 million in new debtor-in-possession financing for the makeup brand, plus an additional $20 million in post-emergence working capital, according to a
Sarah Bond, the first Black female president of Xbox, has stepped down. Bond was promoted to Xbos president in October 2023, shortly after Microsoft closed its $68.7 billion deal to acquire Activision Blizzard, according to The Verge. “Over the past four years, we’ve navigated that moment together and positioned the business for what comes next. We took on some of the biggest challenges this organization has ever faced and did it as one team,” Bond wrote in a LinkedIn post. About Sarah Bond Bond became the first Black woman to serve
iHeartMedia extended a multi-year deal with Charlamagne Tha God, keeping “The Breakfast Club” and The Black Effect Podcast Network tied to iHeart’s audio distribution and ad stack. Black PR Wire reported the agreement as an extension of an existing relationship that spans broadcast radio, a nationally syndicated morning show with more than 7 million monthly listeners, and a podcast joint venture. The structural importance lies in the control of monetization rails. iHeart keeps a high-volume Black audience and premium talent inside its integrated ad-tech and syndication system, while Charlamagne retains
When Simone Biles left a Nike endorsement reportedly worth $1.6 million a month and signed with Athleta in 2021, it shocked the sports world. Biles’ move was not about money but about her values and feeling supported as an individual, Marca reported. From performance marketing to values-first partnership The four-time Olympic gold medalist exited Nike months before the Tokyo Olympics. Athleta, the Gap Inc.-owned activewear brand, offered a partnership structured around collaboration and product development. The deal included direct work with Athleta’s design team and a focus on Athleta Girl,
Former NFL quarterback Colin Kaepernick is bringing his education technology startup, Lumi, into K–12 classrooms through a new partnership with Metro Nashville Public Schools (MNPS). The collaboration launches a phased district pilot that introduces students to AI-powered storytelling tools designed to support literacy, creativity, and responsible technology use. Kaepernick’s AI Storytelling Platform Founded by Kaepernick in 2024, Lumi Story AI emerged from stealth with $4 million in seed funding led by Alexis Ohanian’s venture firm, Seven Seven Six. The platform is built to position AI as a creative assistant, helping
Darren Jason Watkins Jr, known globally as IShowSpeed, marked his 21st birthday with a historic milestone: surpassing 50 million YouTube subscribers live on stream while celebrating in Lagos, Nigeria. The achievement places IShowSpeed among a small group of creators whose audiences rival mid-size television networks. According to Black Millionaires, he is the first Black creator to reach the 50-million-subscriber mark. As the subscriber counter ticked upward during the livestream, IShowSpeed framed the moment as a collective win. “Chat, this is the best birthday gift that I could ever ask for,” he
Khaby Lame, the most-followed creator on TikTok, has finalized the sale of his core company, Step Distinctive Limited, in an all-stock deal widely reported at around $900 million. The buyer is Rich Sparkle Holdings, a Hong Kong–based firm that also trades in the US as ANPA.US. Under the agreement, Rich Sparkle will hold exclusive operational rights to Lame’s brand for an initial three-year period, while Lame becomes a controlling shareholder in the acquiring company. From Viral Reach to a Single Operating System Lame, who was born in Senegal and raised
Steven Bartlett’s Flight Story has partnered with Dr Raphael Sofoluke, founder of the UK Black Business Show, to launch Legacy Black. The 50/50 joint venture aimed at building a global media brand focused on Black business and wealth creation. The partnership targets over £100 billion ($134 billion) of economic impact over the next decade. It emerged after Bartlett spoke at the UK Black Business Show in 2023, evolving into a media business designed to convert community into a sponsor-backed revenue model. Flight Story And UK Black Business Show Join Forces
