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