McDonald's settles Byron Allen's $10 billion lawsuit over commitment to Black-owned media
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, Cars.TV, Comedy.TV, ES.TV, Justice Central, MyDestination.TV, Pets.TV and Recipe.TV.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
2 hours ago
- Hindustan Times
'White couple' not the only ones hurt in Cincinnati attack? Claims of a third person surface
Violence broke out in downtown Cincinnati, amid the ongoing Cincinnati Music Festival, formerly known as the Cincinnati Jazz Fest, with videos showing a group beating a man and a woman. The incident in Cincinnati, where the man and woman were beaten, took place at the intersection of West Fourth Street and Elm Street. Image for representation(Pexels) While police have taken cognizance of the clips and said they are investigating the matter, which left two people injured, now a new video appears to show that there was a third victim. The incident, where the man and woman were beaten, took place at the intersection of West Fourth Street and Elm Street. What does the new video show? The new video, shared by Charlie Kirk – co founder of Turning Point USA – shows a man on the streets of what he claims to be Cincinnati. This man is attacked from behind by what appears to be another Black person. He is hit in the face and goes to ground immediately. He is then dragged by his legs and dropped in front of a vehicle on the road. The man then manages to get back on his feet. Sharing the video, Kirk, who is a conservative political activist, said 'I sure hope the police are in the process of arresting all of these criminals so the DA can throw the book at each and every one of them.' Again, the video does not show the events leading up to the altercation, and it remains unclear if this man is related to the other two white people who were on the receiving end of violence. What authorities said about the attack Speaking about the clips where the couple were shown getting beaten, Cincinnati police chief Terri Theetge told WLWT that the incident was in no way related to the music festival. Further, the police chief noted that a verbal altercation had broken out among some of the individuals seen on the video, which eventually escalated to outright violence. 'I am in complete disgust waking up to the viral video many of you have now seen. The behavior displayed is nothing short of cruel and absolutely unacceptable. Our investigative team is working diligently to identify every individual involved in causing harm,' the top cop said.
Mint
3 hours ago
- Mint
KKR-backed Leap India picks bankers for IPO, to file DRHP in a few days
Leap India, backed by global private equity giant KKR, has appointed UBS, Avendus Capital, IIFL and JM Financial as lead managers for its upcoming initial public offering, according to four people familiar with the matter. 'The company is set to file its draft red herring prospectus (DRHP) within the next few days, and has a target to list within the next six months," a person with direct knowledge of the development told Mint. The supply chain solutions provider had earlier planned to raise ₹1,000 crore through an IPO in 2022, but those plans were put on hold after KKR acquired a controlling stake in the company in 2023. With the recent appointment of bankers, the IPO plans now appear to be back on track. Leap India has even added Harinarayanan Nair and Sanjiv Gupta to its board as independent directors, meeting regulatory obligations ahead of its plan to go public, as per reports. Two sources familiar with the development told Mint that KKR plans to partially exit its stake through the upcoming IPO. When asked whether this would be a full exit, one source responded, 'Not fully". Although the final valuation will be determined post road shows and investor meetings, KKR is targeting anywhere between $2.0-2.5 billion in value for the company in the IPO, people aware of the development said. One of the sources aware of the matter said that KKR, along with a few other private equity investors, is expected to sell a portion of their stake in the IPO. KKR, IIFL Capital, Avendus Capital, JM Financial and Leap India did not respond to queries sent by Mint, while UBS declined to comment. Since its inception in 2013, Leap India has raised a total of $214.47 million in equity funding, according to Tracxn. Key investors in these rounds include KKR, Morgan Stanley, Mayfield, TVS Capital Funds and Sixth Sense Ventures, the data showed. Many private equity‑backed firms in India are increasingly opting for domestic listings because India's capital markets have matured significantly, offering deep liquidity, robust investor appetite and strong demand from both domestic retail and institutional investors. This depth allows PE investors to list via IPOs or offer-for-sales (OFS), and then gradually sell entire stakes over time, without materially impacting valuations. For instance, Carlyle-owned Magnum Holdings unlocked value by offloading a 20% stake during Hexaware Technologies' IPO in February. Later in 2024, Accel, Alpha Wave, Elevation Capital and Prosus—among Swiggy's earliest believers—had also lined up to sell part of their holdings in the food delivery startup's IPO. The much-talked-about Swiggy issue was oversubscribed 3.59 times in November last year, and the stock listed at an 8% premium, highlighting the strong liquidity and depth of domestic investor demand. Leap is a provider of asset pooling solutions for supply chains in India. Asset pooling allows companies to rent and share reusable logistics equipment—such as pallets and containers—rather than owning them, helping reduce costs and improve efficiency. The company serves over 900 customers through 7,000+ touchpoints, operates 30 warehouses and fulfillment centres, employs over 3,250 people and partners with seven outsourced pallet manufacturing units across the country. The company's revenue surged 44% year-on-year in FY24 to ₹371.9 crore, according to data shared by Tracxn. Earnings before interest, tax, depreciation and amortization grew 66% on year to ₹209.9 crore, while net profit shot up 313% to ₹37.2 crore.
Mint
9 hours ago
- Mint
After Tesla, Vietnamese EV maker VinFast enters India, opens first showroom in Gujarat
Vietnamese electric vehicle (EV) maker VinFast has opened its first showroom in Surat, Gujarat, marking its official entry into the Indian market. This significant step precedes the inauguration of its manufacturing plant in Thoothukudi, Tamil Nadu, underscoring the company's commitment to establishing a strong presence in the country's growing EV sector. The company entered India shortly after the long-awaited inauguration of the Elon Musk-owned Tesla showroom in Mumbai. The new dealership, 'VinFast Surat', is promoted by Chandan Car, a leading name in India's automotive retail sector located in Piplod in Surat. The facility will offer product experiences, vehicle purchase journeys, and after-sales support. The dealership will serve as a one-stop destination for VinFast's prospective buyers. Additionally, the company aims to launch 35 dealerships by year-end, across 27 plus cities, ANI reported. The Surat showroom will feature VinFast's upcoming range of premium electric SUVs, the VF 6 and VF 7. Notably, India is the first market where VinFast is launching the right-hand drive version of these models. Pre-bookings for both VF 6 and VF 7 models officially opened on July 15, 2025. Customers can now book their preferred vehicle either at the exclusive showrooms or through the official website, with a fully refundable booking amount of ₹ 21,000. The VF 6 is a compact electric SUV with a five-seater system designed for families and comes with a panoramic roof and touchscreen. It is expected to be priced between ₹ 18 lakh to ₹ 24 lakh. On the other hand, the VF 7, a mid-size SUV offers a premium cabin with a large touchscreen, wireless charging and advanced connected technology. It's likely to be priced between ₹ 30 lakh and ₹ 35 lakh. Pham Sanh Chau, CEO, VinFast Asia, said, "The first VinFast Showroom in Surat, Gujarat is a symbol of our deep commitment to India. We are excited to bring the VinFast experience closer to Indian consumers.' India is becoming an attractive spot of international investments, especially in the EV sector. This happened ever since the government introduced a new scheme to encourage global auto firms to make electric cars in India. The scheme will allow companies to import a limited number of electric cars at an import duty of 15 per cent, which is much lower than the existing duties of 70-110 per cent, Mint reported earlier.
