Byron Allen Bids $10 Billion for ABC, Other Disney TV Networks; Disney Says No Decision Yet But Open to Selling
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Byron Allen has made a $10 billion bid to acquire ABC and other Disney TV networks including FX and Nat Geo.
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Disney CEO Bob Iger has indicated he'd be open to selling ABC and other non-ESPN cable networks.
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Disney says reports they are in talks to sell networks are "unfounded" and no decision made yet.
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Allen Media Group owns The Weather Channel, film distributor Freestyle, regional sports networks and broadcast stations.
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Deal could face regulatory hurdles with FCC due to Allen's existing broadcast holdings.