{"id":2033496,"date":"2023-09-15T15:02:02","date_gmt":"2023-09-15T19:02:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-holds-initial-talks-on-sale-of-abc-to-nexstar-mogul-byron-allen-makes-10b-bid\/"},"modified":"2023-09-15T15:05:24","modified_gmt":"2023-09-15T19:05:24","slug":"disney-holds-initial-talks-on-sale-of-abc-to-nexstar-mogul-byron-allen-makes-10b-bid","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-holds-initial-talks-on-sale-of-abc-to-nexstar-mogul-byron-allen-makes-10b-bid\/","title":{"rendered":"Disney in talks to sell ABC to Nexstar, Byron Allen offers $10B bid."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdisney-holds-initial-talks-on-sale-of-abc-to-nexstar-mogul-byron-allen-makes-10b-bid%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2033496&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">(Photo by \u200bSpencer Platt\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/james-meyers\">James Meyers<\/a><br \/>11:37\u200b AM \u2013 Friday, September 15, 2023<\/h2>\n<p>Media Entrepreneur\u2062 Byron Allen \u2062has made\u200b a bold move, offering a staggering\u200b $10 billion to acquire the ABC\u200c television network from Disney. This includes the popular FX \u200cand National Geographic cable\u200d channels. A spokesperson for Allen confirmed the bid on\u200b Friday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>According to Bloomberg, Disney\u2062 is also in discussions with Nexstar Media\u200c Group, the largest TV station owner\u200b in the country, regarding the \u200cpotential sale of the ABC network.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWhile \u200bwe are open to considering a variety of \u200cstrategic options for \u2063our linear businesses, at this time The \u200cWalt Disney Company has \u2062made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded,\u201d a Disney spokesperson said\u200c in a statement responding to \u200bthe report.<\/p>\n<\/blockquote>\n<p>The talks of selling ABC comes after Disney CEO Bob Iger hinted in July that the company may sell some of its \u200ctraditional TV \u2063assets, which have struggled due to the rise in popularity of streaming \u2063services.<\/p>\n<p>Employees within the\u200c company were \u200creportedly \u200bshocked by the news, causing\u2064 a wave of &#8220;high anxiety,&#8221; according to CNN.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cNone of this is surprising, given \u2063Disney is looking to unload non-core assets, and when\u200b a stock is under pressure as\u200b Disney has been, it needs to\u2062 unload core\u200d assets\u200d and conserve capital, and \u2063this deal would be\u2064 consistent with that,\u201d media M&#038;A \u2063advisor Peter Csathy commented on \u200bthe \u200creported talks.<\/p>\n<\/blockquote>\n<p>Disney&#8217;s linear networks have experienced \u200ba 27% decrease in operating income, recording\u2062 $5 billion so far this year compared to \u2064the \u2064same period\u2063 in 2022.<\/p>\n<p>In their latest \u2064third quarter report, Disney highlighted ABC&#8217;s struggles, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-holds-initial-talks-on-sale-of-abc-to-nexstar-mogul-byron-allen-makes-10b-bid\/\" title=\"Disney in talks to sell ABC to Nexstar, Byron Allen offers B bid.\">citing declining advertising revenue<\/a> and average viewership.<\/p>\n<p>However, \u2063Disney&#8217;s streaming income \u2064continues\u2063 to rise, with both Hulu and Disney+ reporting increased subscription \u2064revenue in their\u2062 third quarter.<\/p>\n<p>ABC is \u2064a national\u200d TV\u200d network with eight \u200cregional stations and affiliation agreements with nearly 240 \u200dlocal television stations, reaching households\u200b across the United States.<\/p>\n<p>In 1995,\u200d Disney&#8217;s then-Chief Executive Michael\u2063 Eisner acquired Capital Cities\/ABC \u2063for $19 billion.<\/p>\n<p>Nexstar currently owns or partners with 200 stations in over 100 markets, reaching over two-thirds of the U.S. population. The company has \u2064a \u2062market\u200c value of $5.25 billion.<\/p>\n<p>Stay informed! Subscribe here to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/xi-jinping-and-vladimir-putin-meet-in-kremlin\/\" title=\"Xi Jinping and Vladimir Putin meet in Kremlin\">receive breaking news blasts directly<\/a> to your inbox\u2064 for free.\u2064 <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A grieving mother, whose son was \u2063tragically \u2063stabbed to death, launches an inspiring congressional bid in New York. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In a captivating policy\u2064 video, the 45th President Donald \u2064Trump reveals ten steps to breathe new\u200d life into the American \u200deducation system.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>President \u2062Biden takes a bold stance against &#8220;MAGA-nomics&#8221; as\u200d he strives to win over\u2062 voters with his economic plans.\u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Department of Justice indicts Hunter Biden on three gun-related charges, just a\u2063 month \u200bafter his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/harrington-trump-will-make-schools-great-again\/\" title=\"Harrington: Trump to Improve Schools\">controversial sweetheart deal fell<\/a> through the cracks. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) &#8211; \u200dThe\u2062 European Commission launches an investigation on Wednesday into\u200d whether punitive \u200btariffs should be imposed to\u200c protect European Union automakers against\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By John Revill ZURICH (Reuters) \u2063\u2013 \u2063ABB is\u200b investing $280 million in a state-of-the<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-docu-series-exposes-truth-about-jan-6th\/\" title=\"Jan. 6th Truth Exposed in New Docu-Series\">-art robotics factory<\/a> in Sweden, showcasing the Swiss engineering and\u2026\u200c <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>PARIS (Reuters) \u200b\u2013 French Europe Minister Laurence Boon welcomes an\u2062 anti-subsidy investigation into Chinese electric \u2064vehicles launched \u2062by the \u200dEU\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By\u2062 Mathieu Rosemain and Silvia Aloisi PARIS\u2063 (Reuters) \u2013 Apple announces on Wednesday that its \u2062iPhone 12 model \u2063has been certified by multiple international\u2026 <\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What is the current state of ABC&#8217;s operating income and viewership compared to previous years?<\/h2>\n<p><span>  Media\u2064 Entrepreneur Byron Allen \u200bhas\u200c made a bold move \u2063by offering \u200da staggering $10 billion \u200cto acquire\u2062 the ABC television network from Disney, including the popular FX and National Geographic\u2064 cable channels. A spokesperson for Allen confirmed the bid on Friday.<\/p>\n<p>According to Bloomberg, Disney is also in \u200bdiscussions with Nexstar Media Group, the largest\u200d TV station owner in the\u200c country, regarding the potential sale of the ABC network.<\/p>\n<p>However, a \u2062Disney \u2063spokesperson responded to the reports saying, &#8220;While we \u2064are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with respect to the divestiture of ABC or\u200b any other\u200d property and any report to that effect\u2063 is unfounded.&#8221;<\/p>\n<p>The \u200dtalks of selling ABC come after\u200c Disney CEO Bob Iger \u200dhinted \u200cin July that \u2064the company\u2064 may sell some of its traditional TV assets, which have struggled due \u200dto the rise in popularity of streaming services. This news reportedly shocked employees within the company, causing a wave of\u2064 &#8220;high \u200danxiety.&#8221;<\/p>\n<p>Media M&#038;A advisor Peter \u2062Csathy commented on the reported talks, stating, &#8220;None of this is surprising, given Disney is looking to unload\u2063 non-core assets, and when\u2064 a stock is under pressure as Disney has been, it needs to unload core assets and conserve capital, and this deal would\u2064 be consistent with that.&#8221;<\/p>\n<p>Disney&#8217;s linear networks have experienced a 27% decrease in operating income, recording $5 billion \u200cso far this\u2062 year compared \u2063to the \u2064same period in\u2062 2022. In\u200d their latest third-quarter report, \u200bDisney \u200dhighlighted ABC&#8217;s struggles, citing declining \u200badvertising revenue and average \u200dviewership.<\/p>\n<p>On the other hand,\u2064 Disney&#8217;s\u200d streaming income continues\u2064 to\u2062 rise, \u200cwith both Hulu and Disney+ \u200breporting increased subscription revenue in\u200d their third quarter.<\/p>\n<p>ABC is a \u2064national TV network with eight regional stations and\u200b affiliation agreements\u2064 with nearly 240 local television stations, reaching \u2062households across \u2062the United States.<\/p>\n<p>It&#8217;s worth mentioning that in \u20631995, \u200bDisney&#8217;s then-Chief \u200cExecutive Michael \u200dEisner acquired Capital Cities\/ABC for $19 billion.<\/p>\n<p>The potential sale of ABC is \u2063a significant development in the media \u2063industry, reflecting the changing landscape\u2063 as \u2062traditional TV networks face challenges\u200d in competing with streaming\u200d services. Whether\u2062 the\u2063 sale goes through\u2064 or not, it will \u200ccertainly\u2062 have an impact \u200don the future of ABC and Disney as they navigate the evolving media \u2063landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Media entrepreneur Byron Allen has offered $10 billion to acquire ABC television network, including FX and National Geographic cable channels, from Disney. Disney is reportedly engaged in discussions with Nexstar as well, as per Bloomberg.<\/p>\n","protected":false},"author":2301,"featured_media":2033497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2033496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2033496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2033496"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2033496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2033497"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2033496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2033496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2033496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}