Media mogul Byron Allen offers $10 billion to acquire ABC from Disney
by Jess Weatherbed from The Verge - All Posts on (#6ESA7)
Allen is set to appear on stage at the Code conference starting on September 26th. | Photo by Chance Yeh/Getty Images for Allen Media Group / The Weather Channel Comedian and media mogul Byron Allen has reportedly made a $10 billion offer to acquire the ABC TV network, FX and National Geographic cable channels, and local stations from Walt Disney, according to a report from Bloomberg. The publication's source claims that the offer is preliminary and could change," and that Allen would work with banks and private equity firms to finance the deal.
Disney has yet to publicly acknowledge Allen's offer. In a statement published earlier this week, the company said it was open to considering a variety of strategic options for our linear businesses" in response to rumors that it was in talks to sell the aforementioned properties to Nexstar Media Group. Bloomberg's report claims that Allen may sell off...