NEWS: Disney Receives $10 BILLION Offer To Buy ABC

By Lydia Storks 1 Comment

Ever since Bob Iger returned to The Walt Disney Company as CEO, we’ve been seeing some changes made to get the company back on track financially.

©Disney | Walt Disney Company Headquarters

There has been talk of Disney possibly selling ABC in the future to help reach those financial goals, but we haven’t seen any major steps taken in that direction yet. However, now, there’s an offer on the table.

According to Bloomberg, Byron Allen has made a bid to purchase ABC for $10 billion. This purchase would also include local stations, as well as the FX and National Geographic cable channels.

©Disney

Allen based the offer on the assumption that the properties generated $1.25 billion in earnings before interest, taxes, depreciation, and amortization over the past year. Allen would work with banks to finance the purchase and may sell the TV stations that he currently owns that aren’t affiliated with ABC.

©ABC

Allen was a standup comic previously but has branched into producing TV shows, and has spent more than $1.3 billion in recent years to acquire assets like the Weather Channel and a variety of local stations. Disney released a statement recently noting that no decisions about a sale have been made, but that the company is considering strategic options.

©Bloomberg

We’ll continue to follow this news and update you if there are any changes, so stay tuned! We’ve got the latest Disney updates and information to share.

Click Here to Learn More About the Possible Sale of ABC!

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