Byron Allen’s Allen Media Group is set to acquire Black News Channel out of bankruptcy for $11 million from billionaire Shahid Khan, owner of the NFL’s Jacksonville Jaguars franchise.

The announcement from AMG follows an order from the Northern District of Florida, Tallahassee Division of the United States Bankruptcy Court approving the sale of “substantially all” of the channel assets. The assets will be acquired free and clear of all liens, claims, encumbrances and interests.