Latest news with #BlackOwnedMedia
Yahoo
19 hours ago
- Business
- Yahoo
Byron Allen Reaches Settlement With McDonald's In Lawsuit Claiming Racial Bias In Advertising
Byron Allen's Entertainment Studios and The Weather Group have reached a settlement with McDonald's in a lawsuit over the fast food giant's alleged lack of support for Black-owned media companies. McDonald's defeated the complaint in 2024 in the U.S. District Court for the Central District of California, but Allen appealed. The parties announced the settlement Friday, though no financial details were disclosed. More from Deadline Paramount Says Abrupt Dismissal Of Longtime Media Agencies WPP Media And Horizon Was Driven In Part By Push For "Greater Efficiency" - Update AMC Says New NCM Preshow Ads Don't "Negatively Influence Moviegoing Habits" Tastes Great, Less Filling? Report On Meta Plan For Cheaper, Fully AI-Made Ads Boosts Tech Giant's Stock As Media Agency Shares Slump Under the settlement, McDonald's will still buy ads from ESN, which controls a range of broadcast and streaming properties, 'in a manner that aligns with its advertising strategy and commercial objectives,' a press release said. and ESN will dismiss its lawsuit against McDonald's The fast food company is not admitting any wrongdoing and the press release affirmed that the ads sold will be priced at market value. 'We are pleased that Mr. Allen has come to appreciate McDonald's unwavering commitment to inclusion, and has agreed to refocus his energies on a mutually beneficial commercial arrangement that is consistent with other McDonald's supplier relationships,' McDonald's said in a statement. 'Our company's unique three-legged stool model relies on mutual respect, and we look forward to ESN's contributions to the betterment of our system.' The presumed injection of capital into Allen's companies comes as they face the same pressures hitting all media companies due to cord-cutting and declines in advertising. He recently enlisted Moelis & Co. to explore a sale of his local TV stations. 'We are pleased to find a resolution that maintains our business relationship,' ESN and The Weather Co. said. 'During the course of this litigation, many of our preconceptions have been clarified, and we acknowledge McDonald's commitment to investing in Black-owned media properties and increasing access to opportunity. Our differences are behind us, and we look forward to working together.' Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 TV Cancellations: Photo Gallery 2025-26 Awards Season Calendar: Dates For Tonys, Emmys, Oscars & More
Reuters
a day ago
- Business
- Reuters
McDonald's settles Byron Allen's $10 billion lawsuit over commitment to Black-owned media
June 13 (Reuters) - McDonald's (MCD.N), opens new tab has settled a $10 billion lawsuit by the media entrepreneur Byron Allen challenging the fast-food chain's alleged refusal to advertise with Black-owned media. Friday's settlement between McDonald's and two of Allen's companies, Entertainment Studios Networks and the Weather Group, averts a scheduled July 15 trial in Los Angeles federal court. It also resolves Allen's related $100 million lawsuit against McDonald's in Los Angeles Superior Court. McDonald's said it will buy ads "at market value" from Allen's companies "in a manner that aligns with its advertising strategy and commercial objectives." Settlement terms are confidential. McDonald's, based in Chicago, denied wrongdoing in agreeing to settle. In a statement, Allen's companies said "we acknowledge McDonald's commitment to investing in Black-owned media properties and increasing access to opportunity. Our differences are behind us." Allen had accused McDonald's of "racial stereotyping" by not advertising with Black-owned media, and lying when it pledged in 2021 to boost national ad spending with those media to 5% from 2% by 2024. He said he relied on that pledge when seeking new business from McDonald's, only to be rebuffed. Allen also said his Allen Media Group represented more than 90% of Black-owned media. Allen's networks include The Weather Channel, Justice Central, and
