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November 8, 2009

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Vegas group buys network

Wednesday, Nov. 19, 2003 | 11:09 a.m.

Wright Entertainment LLC of Las Vegas has acquired a controlling interest in Fort Worth, Texas-based Urban Television Network Corp. and will move the network's headquarters to Las Vegas.

The $7 million investment is being led by Lonnie Wright, head of Wright Entertainment and associate vice president of the Community College of Southern Nevada's Hospitality Institute. The investment will be made in installments over two years, beginning with an initial payment of $500,000.

Wright has been named chief executive of the network, which focuses on black-oriented programming.

The network expects to employ a staff of 12 in Las Vegas within 30 days and is currently in the process of securing a lease, said Bruno Olivieri, a spokesman for the network. Urban Television Network has 72 affiliates nationwide but no current Las Vegas affiliate.

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