Byron Allen has submitted a $10 billion offer to Walt Disney Co. to acquire its ABC TV network, local stations, as well as the FX and National Geographic cable channels, according to a person familiar with his proposal.
The offer is preliminary and could change, said the person, who asked to not be identified. Allen is basing his offer on the assumption that the properties generated $1.25 billion in earnings before interest, taxes, depreciation and amortization over the past 12 months. If that number is lower or higher, Allen would change his proposed price, which is based on a multiple of eight times EBITDA.
Recent news: Nielsen replaces CEO amid measurement turbulence
Allen would work with banks and private equity firms to finance an acquisition, the person said. He may sell the local TV stations he already owns that aren’t affiliated with ABC, so there wouldn’t be friction with other networks like CBS and NBC.
About The Author
More Stories
IPA teams with TikTok to attract more diverse range of recruits
Inside Susan Alexandra’s brand collabs—from Coco Gauff and New Balance to Sweetgreen
Every Man Jack, the grooming brand, dreamed up a beard band to sing about your facial hair