Byron Allen Makes $10 Billion Offer to Acquire ABC, FX, Nat Geo from Disney

Byron Allen submits $10 billion offer to Disney to acquire ABC network, FX, National Geographic channels, and local stations
Offer is preliminary and could change based on assumption that properties generated $1.25 billion in EBITDA last 12 months
Allen would work with banks, equity firms to finance acquisition, may sell his non-ABC local stations
Allen has spent over $1 billion in recent years acquiring media assets like Weather Channel and local stations
Disney says no decisions made yet on strategic options for traditional TV networks like ABC

yahoo.com

Relevant topic timeline:

8/24/2023

Amazon Joins Growing List Of Suitors In Talks With Disney about ESPN

Disney CEO Bob Iger's search for equity partners for ESPN could result in Amazon acquiring a minority stake in the network to aid in the development of a direct-to-consumer version, joining other potential partners such as the NFL, NBA, MLB, and Verizon.

9/1/2023

Disney pulls ABC, ESPN, FX and other channels from Charter Spectrum service

Walt Disney has pulled its channels, including ABC stations and ESPN, from Charter Spectrum due to a distribution fee dispute, leaving nearly 15 million subscribers without access to popular programming such as "Jeopardy!" and "Wheel of Fortune."

9/14/2023

Declining Viewership and Rising Sports Costs Put Pressure on Broadcast TV Networks

Walt Disney CEO Bob Iger is considering options for the company's traditional broadcast and cable businesses, including the potential sale of ABC, as streaming services and declining viewership threaten the future of linear TV.

9/14/2023

Disney in Talks with Nexstar About Potential Sale of ABC

Walt Disney Co is reportedly in talks with Nexstar Media Group Inc to sell its U.S. TV network ABC, as Disney looks to sell some of its traditional TV assets due to the rise of streaming services.

9/17/2023

Disney Seeks to Sell Declining Linear Networks, Signaling Shift to Streaming Future

Disney's potential sale of ABC and its affiliated networks is not primarily motivated by financial gains, but rather serves as a signal to investors that Disney is ready to move away from traditional television and focus on its streaming businesses.

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Posted 9/15/2023, 1:53:00 AM

Byron Allen Makes $10 Billion Offer to Acquire ABC, FX, Nat Geo from Disney

Byron Allen submits $10 billion offer to Disney to acquire ABC network, FX, National Geographic channels, and local stations
Offer is preliminary and could change based on assumption that properties generated $1.25 billion in EBITDA last 12 months
Allen would work with banks, equity firms to finance acquisition, may sell his non-ABC local stations
Allen has spent over $1 billion in recent years acquiring media assets like Weather Channel and local stations
Disney says no decisions made yet on strategic options for traditional TV networks like ABC

yahoo.com

Relevant topic timeline:

8/24/2023

Amazon Joins Growing List Of Suitors In Talks With Disney about ESPN

9/1/2023

Disney pulls ABC, ESPN, FX and other channels from Charter Spectrum service

9/14/2023

Declining Viewership and Rising Sports Costs Put Pressure on Broadcast TV Networks

9/14/2023

Disney in Talks with Nexstar About Potential Sale of ABC

Walt Disney Co is reportedly in talks with Nexstar Media Group Inc to sell its U.S. TV network ABC, as Disney looks to sell some of its traditional TV assets due to the rise of streaming services.

9/17/2023

Disney Seeks to Sell Declining Linear Networks, Signaling Shift to Streaming Future