{"id":2036866,"date":"2023-09-19T05:09:01","date_gmt":"2023-09-19T09:09:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-mogul-byron-allen-offers-10-billion-for-disneys-abc-other-networks\/"},"modified":"2023-09-19T05:15:33","modified_gmt":"2023-09-19T09:15:33","slug":"media-mogul-byron-allen-offers-10-billion-for-disneys-abc-other-networks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-mogul-byron-allen-offers-10-billion-for-disneys-abc-other-networks\/","title":{"rendered":"Byron Allen, media mogul, bids $10B for Disney&#8217;s ABC and other networks."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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%2Fmedia-mogul-byron-allen-offers-10-billion-for-disneys-abc-other-networks%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=2036866&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--><h2>Comedian Byron Allen Offers $10 Billion to Buy ABC TV\u200d Network and More<\/h2>\n<p>In\u200b a bold \u200dmove, comedian and media mogul Byron\u2064 Allen has made a staggering $10 billion offer\u2062 to acquire Walt Disney&#8217;s ABC TV network, local \u2064stations, FX, and National Geographic cable channels. This exciting news was \u200dconfirmed by a spokesperson for Mr.\u200b Allen on Friday.<\/p>\n<div class=\"my-5\">\n<p>The preliminary offer is based on an estimation that the properties generated an impressive $1.25 billion in earnings before\u2063 interest, \u200dtaxes, depreciation, and amortization (EBITDA) \u2063over the past 12 months, as reported by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-15\/byron-allen-makes-10-billion-bid-for-abc-other-disney-networks\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<\/div>\n<p>The $10 billion figure represents a multiple of\u200d eight times EBITDA,\u2062 and Mr. Allen is\u2062 willing to adjust his proposed price based on \u200dthe actual financial performance of the assets, according \u200cto the publication.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\" id=\"in_article_related_stories\">\n<h3 class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/h3>\n<ul class=\"mb-4 flex gap-2\">\n<li class=\"grow\">\n<p class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/article\/disney-charter-settle-cable-dispute-hours-before-monday-night-football-season-opener-5489721\">Disney, Charter Settle Cable Dispute Hours Before &#8216;Monday \u2064Night Football&#8217; Season Opener<\/a><\/p>\n<p class=\"text-comp-caption text-[14px] leading-[18px]\">9\/11\/2023<\/p>\n<\/li>\n<li class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/article\/disney-charter-settle-cable-dispute-hours-before-monday-night-football-season-opener-5489721\"><\/a><\/li>\n<\/ul>\n<ul class=\"mb-4 flex gap-2\">\n<li class=\"grow\">\n<p class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/article\/walt-disney-company-share-value-drops-to-a-9-year-low-5480790\">Walt Disney \u2062Company Share Value Drops to a 9-Year Low<\/a><\/p>\n<p class=\"text-comp-caption text-[14px] leading-[18px]\">8\/25\/2023<\/p>\n<\/li>\n<li class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/article\/walt-disney-company-share-value-drops-to-a-9-year-low-5480790\"><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>&#8220;It&#8217;s not\u200b a complete surprise to see this bid\u200b come \u200bin from him,&#8221;\u200c said\u200d Liz Miller, president and\u200b founder of Summit Place Financial\u200c Advisors. &#8220;We&#8217;ve seen him before and recently \u2063over the past year or so, a bid for broadcast assets. He&#8217;s clearly looking to\u2063 build his\u2064 own media \u2062empire with those broadcast assets.&#8221;<\/p>\n<p>This \u200cmove follows\u2064 a\u2062 trend \u2063of media\u2064 consolidation, as Mr.\u200c Allen, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-mogul-byron-allen-offers-10-billion-for-disneys-abc-other-networks\/\" title=\"Byron Allen, media mogul, bids B for Disney's ABC and other networks.\">standup comic turned media\u2064 tycoon<\/a>,\u2063 has been actively expanding \u2064his media \u200bportfolio. In recent years,\u200b he has made \u200cimpressive acquisitions totaling over $1.3 billion, \u2064including the Weather Channel and multiple local TV stations \u200cacross\u200b the United States.<\/p>\n<p>The\u200c offer comes\u2063 in response to \u2063Disney CEO \u200bBob Iger&#8217;s statement\u2064 in July that the company was open to selling some of its traditional TV assets, which have struggled due to the rise \u2062of streaming services. Bloomberg reports that\u200c Disney has been in discussions with potential buyers, including local broadcaster Nexstar.<\/p>\n<p>However, Disney has not yet publicly acknowledged any offer.<\/p>\n<p>\u201cWhile we are open to considering a variety\u2064 of\u200c strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with \u200drespect to the divestiture of ABC or any other property and any report to that effect is unfounded,\u201d the company\u2062 said\u2062 in \u200ca Sept. 14 statement.<\/p>\n<p>In a recent\u200b earnings report,\u200c Disney&#8217;s \u200bstreaming\u2062 operation reported losses of \u2062$512 million,\u2063 bringing\u200d the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-disappears-its-own-audience-after-a-decade-of-disappearing-princesses\/\" title=\"Disney's Princesses Vanish, Leaving Fans in the Dark\">total streaming losses<\/a>\u2064 to over $11\u200d billion since\u200c the introduction of Disney+ in 2019. Disney has been facing\u200b financial challenges across its declining \u2063linear TV\u2063 business, struggling streaming service, disappointing box office results, and decreasing parks \u2064attendance, following the initial \u2064surge after the COVID-19 pandemic.<\/p>\n<p>&#8220;Disney, at its core, has always been a creative \u2062content company and a \u2063leading creative \u200bcontent \u200dcompany. The advance of \u2063streaming\u200d and then the challenges\u2063 with the \u2064legacy broadcast\u2062 assets have really taken the\u2063 focus off where Disney believes its own strength is and where it&#8217;s\u200c really\u200b worked its own strength in the past,&#8221; added Ms.\u200d Miller.<\/p>\n<p>Disney&#8217;s TV subscribers have\u2062 been declining at a \u200drate of\u200c 6\u20137 percent, impacting advertising and affiliate revenue. Even\u2063 Disney+, which attracted millions of viewers in\u200d recent years, experienced a significant surge in cancellations for the first time.<\/p>\n<p>\u201cFrom\u200b our point of view, \u200cDisney \u200chas problems across just about every one of its \u2062businesses,\u201d commented\u200d Brandon Nispel, KeyBanc\u2064 capital markets analyst, to MarketWatch.<\/p>\n<p>In the quarter, the\u2062 company incurred \u2064$2.65 billion in restructuring losses due to content \u200cremoval from its \u200cstreaming services,\u200d termination of licensing agreements, and $210 million in severance payments\u200d to laid-off workers.<\/p>\n<div class=\"my-5\">\n<em>Reuters and Bryan\u200b Jung contributed to this report.<\/em>\n<\/div>\n<p> <\/p>\n<h2> \u200bHow might the potential acquisition of\u2064 ABC TV network by\u2062 Byron Allen contribute to the creation of unique and \u200dcompelling programming for a broad audience?<\/h2>\n<p><span>  Ding Allen, for its TV assets for several \u200bmonths now.<\/p>\n<p>If the deal goes through, it \u200cwould make Byron Allen, the founder, and CEO of Entertainment Studios, one\u2063 of the largest African American owners of\u200c cable networks and\u200d broadcast television\u2063 stations. Allen, who started his career \u200cas a comedian, has built a successful\u200c media empire over the years, with a \u2062focus on diversity and inclusive programming. This acquisition would \u2063further solidify his\u200b position in the\u2064 industry and\u200d provide him \u2064with a significant \u2062platform to showcase\u200d his content and\u200b reach \u2063a wider audience.<\/p>\n<p>Byron Allen&#8217;s $10 \u2064billion offer is a testament to his confidence in the potential of \u2062ABC TV network and\u200b its associated properties. The combined \u2064strength of ABC, FX, and \u200bNational Geographic would offer a diverse\u200c range of content to \u200cviewers, from \u200cnews and \u200bentertainment to documentaries \u2064and scripted shows. This\u200c acquisition \u2062could lead \u2064to the creation of unique \u200cand\u2063 compelling programming that appeals to a broad\u2064 audience.<\/p>\n<p>However, it is\u200b important\u2062 to note that \u2063this offer \u200bis still in the preliminary stages,\u200c and\u200d there are \u2064many factors that\u200b could \u200binfluence its outcome. The final price may be adjusted based on the actual financial performance of the \u200dassets, \u200das stated by Allen himself. Additionally, other potential buyers may emerge, leading to \u200ba <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-hampshire-governor-signs-new-law-to-increase-the-use-of-renewable-gas\/\" title=\"New Hampshire Governor Signs New Law to Increase the Use of \u201cRenewable\u201d Gas\">competitive bidding process<\/a>. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swimmer-who-tied-trans-swimmer-lia-thomas-supports-calls-for-separate-trans-division\/\" title=\"Swimmer Who Tied Trans Swimmer Lia Thomas Supports Calls for Separate \u201cTrans Division\u201d\">decision ultimately lies<\/a> with Walt\u2062 Disney and its board of directors, who will\u2062 carefully evaluate the offer and assess its strategic \u2064fit and potential benefits.<\/p>\n<p>Regardless\u200b of the\u2064 outcome, Byron Allen&#8217;s bold\u2064 move highlights the evolving landscape of the\u200d media \u200bindustry. \u2062As streaming\u200c services continue to gain \u200bpopularity and\u2062 traditional TV networks \u200cface challenges, consolidation and strategic partnerships become key\u200c strategies for survival. This not only allows media companies to stay competitive but also enables them to leverage their resources and expertise to create innovative content and deliver\u2064 it to a \u2064diverse audience.<\/p>\n<p>Furthermore, the\u2064 potential acquisition of ABC TV network by Byron \u200dAllen represents a significant win \u200bfor diversity in the media\u200b industry. As an African American\u2064 media \u200bmogul, Allen&#8217;s success\u200b and influence can\u2063 inspire aspiring entrepreneurs and content creators from\u200d underrepresented communities. His \u2064commitment \u2062to representation \u2064and inclusive programming has the potential to \u2063reshape the industry and pave\u200b the way\u200b for more diverse voices\u200b and perspectives to be heard.<\/p>\n<p>In \u2063conclusion, comedian and \u2064media mogul Byron Allen&#8217;s\u200c $10 billion \u2064offer to acquire ABC TV\u200b network, local stations, FX, and National \u2062Geographic \u2062cable channels \u2063is\u200b a bold move that highlights the changing dynamics of the media\u200b industry. If successful, this\u200d acquisition could contribute to the diversification of\u200c content \u200band ownership in the industry, while also\u2064 providing Allen \u2064with a significant platform\u2064 to showcase \u2063his programming. However, it is important to\u2062 recognize that this offer is still in the preliminary stages, and the final outcome\u2062 will be determined by various factors. Nonetheless, Allen&#8217;s bid serves as\u200c a testament to his confidence in \u2062the potential of these assets and his commitment\u200c to\u2063 building a media empire.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Byron Allen, a comedian and media mogul, has made a $10 billion bid to acquire Walt Disney&#8217;s ABC TV network, local stations, FX, and National Geographic cable channels. The offer is based on an estimated $1.25 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA), according to a spokesperson for Mr. Allen.<\/p>\n","protected":false},"author":2052,"featured_media":2036867,"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":[543],"tags":[],"class_list":["post-2036866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"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\/2036866","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\/2052"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2036866"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2036866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2036867"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2036866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2036866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2036866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}