Latest news with #EntertainmentStudiosNetworks
New Straits Times
a day ago
- Business
- New Straits Times
McDonald's settles Byron Allen's US$10 billion lawsuit over ads for Black-owned media
McDonald's has settled a US$10 billion lawsuit by the media entrepreneur Byron Allen accusing the fast-food chain of "racial stereotyping" by excluding Black-owned media from much of its advertising budget. 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 claims raised in Allen's related US$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 accused McDonald's of falsely labeling Entertainment Studios as a media company that produces content solely for Black viewers, consigning it to its "de minimis" ad budget for those viewers instead of its general ad budget. He also accused McDonald's of lying when it pledged in 2021 to boost national ad spending with those media to 5 per cent from 2 per cent by 2024. Allen said he relied on that pledge when seeking business from McDonald's, only to be rebuffed, and that his Allen Media Group represented more than 90 per cent of Black-owned media.
Yahoo
a day ago
- Business
- Yahoo
McDonald's settles Byron Allen's $10 billion lawsuit over commitment to Black-owned media
By Jonathan Stempel (Reuters) -McDonald's 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
Yahoo
a day ago
- Business
- Yahoo
McDonald's settles Byron Allen's $10 billion lawsuit over commitment to Black-owned media
By Jonathan Stempel (Reuters) -McDonald's 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 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
