Media Mogul Byron Allen Offers $10 Billion for Disney’s ABC, Other Networks

Media Mogul Byron Allen Offers $10 Billion for Disney’s ABC, Other Networks
Byron Allen speaks onstage during the Hollywood Walk of Fame Star Ceremony for Byron Allen in Hollywood, California, on Oct. 20, 2021. Emma McIntyre/Getty Images
Updated:

Comedian and media mogul Byron Allen has offered $10 billion to buy Walt Disney’s ABC TV network, local stations, FX, and National Geographic cable channels, a spokesperson for Mr. Allen said on Friday.

The preliminary offer is based on an estimation that the properties generated $1.25 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past 12 months, Bloomberg reported.