Mogul Byron Allen makes US$10b bid for Disney’s ABC, other networks

LOS ANGELES, Sept 15 — Media entrepreneur Byron Allen has made a US$10 billion bid to buy Walt Disney’s ABC television network and assets including the FX and National Geographic cable channels, a spokesperson for Allen said on Friday.

The discussions come after Disney CEO Bob Iger said in July the company could sell some of its traditional TV assets, which have struggled for years due to the rise of streaming services. A Disney spokesperson said while the company was “open to considering strategic options for its linear business”, it has not made a decision yet on selling ABC or any other property.

ABC comprises a national TV network and eight regional stations. It has affiliation agreements with about 240 local television stations reaching almost all US television households.

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