Byron Allen Offers $10 Billion to Disney for ABC, FX, NatGeo Amid Streaming Struggles

Media mogul Byron Allen has offered $10 billion to Disney to buy ABC, FX, and National Geographic.
The offer is preliminary and could change. It's based on the networks making $1.25 billion in earnings last year.
Disney CEO Bob Iger has indicated Disney may sell some TV assets as consumers shift to streaming.
Disney's streaming unit has lost over $11 billion since launching Disney+ in 2019.
The company continues to face financial pressure as streaming loses money and traditional TV declines.

cbsnews.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.

8/25/2023

ESPN could charge up to $35 per month for DTC option

Disney's ESPN is in talks with Amazon about a potential partnership for a new streaming service, with ESPN considering charging between $20 and $35 per month for the service.

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, 12:52:00 PM

Byron Allen Offers $10 Billion to Disney for ABC, FX, NatGeo Amid Streaming Struggles

Media mogul Byron Allen has offered $10 billion to Disney to buy ABC, FX, and National Geographic.
The offer is preliminary and could change. It's based on the networks making $1.25 billion in earnings last year.
Disney CEO Bob Iger has indicated Disney may sell some TV assets as consumers shift to streaming.
Disney's streaming unit has lost over $11 billion since launching Disney+ in 2019.
The company continues to face financial pressure as streaming loses money and traditional TV declines.

cbsnews.com

Relevant topic timeline:

8/24/2023

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

8/25/2023

ESPN could charge up to $35 per month for DTC option

Disney's ESPN is in talks with Amazon about a potential partnership for a new streaming service, with ESPN considering charging between $20 and $35 per month for the service.

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