Advanced Television

Allen bids $10bn for ABC?

September 15, 2023

Byron Allen has made a $10 billion (€9. 3bn) offer for Disney’s ABC and other linear networks according to Allen Media Group. Station owner Nexstar, which bought the CW Network, also has expressed interest in buying ABC and its stations from Disney.

Disney CEO Bob Iger has said that the company’s linear networks, including ABC, may longer be “core” businesses for Disney. It is also considering selling a stake in ESPN.

The Allen bid, reported by Bloomberg, is for the ABC Television Network, the local ABC stations that Disney owns, plus cable networks including FX and National Geographic.

The bid is reportedly based on 8x estimated EBITDA generated by the Disney TV businesses. The price could be adjusted based on the actual EBITDA figures.

Disney has not commented.

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