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August 29, 2015 8:48 PM ET

Media

Company Overview of ABC, Inc.

Company Overview

ABC, Inc. operates a television network. Its programming includes daytime and late-night talk shows, awards shows, music, movies, and news. The company also offers WATCH ABC, an application that enables users to view the ABC network live or full episodes on smartphones, tablets, computers, and over-the-top devices. In addition, it engages in the development, production, and strategic distribution of entertainment content. Further, the company offers T-shirts and clothing, DVDs and CDs, books, drinkware, and home and gifts online. ABC, Inc. was formerly known as Capital Cities/ABC, Inc. and changed its name to ABC, Inc. in September 1996. The company was founded in 1946 and is based in New Yo...

7 Lincoln Square

New York, NY 10023

United States

Founded in 1946

20,200 Employees

Phone:

212-456-7777

Fax:

212-456-2795

Key Executives for ABC, Inc.

President
Senior Vice President and President of Cable & International Broadcast Group
Age: 86
Executive Vice President, Director and Chairman of Fairchild Publications
Age: 88
Executive Vice President of Creative
Vice President and Treasurer
Age: 69
Compensation as of Fiscal Year 2015.

ABC, Inc. Key Developments

ABC Does Not Seeks Acquisitions

ABC, Inc. is aggressively hunting UK talent and writers but is not looking to acquire British production companies. Speaking at the Edinburgh International Television Festival Paul Lee, President of the ABC Entertainment Group said that despite being "super impressed" with many UK indies he was not looking to make any investments. "Whether we're looking to expand the investment, that's not how we're playing it, we're looking to expand our relationships with great talent." he said.

Fox Is Reportedly Seen Selling CNN Rather Than Spinning Off

If Twenty-First Century Fox, Inc. (NasdaqGS:FOXA) succeeds in buying Time Warner Inc. (NYSE:TWX), it's likely to sell Cable News Network, Inc. (CNN) and pay billions of dollars in taxes rather than go through the headaches of spinning the cable news channel off to shareholders of the merged company, according to people familiar with the matter. Fox plans to get rid of CNN because it already operates its own namesake news network and would likely face opposition from regulators even if it wanted to keep it. Potential buyers include CBS Corporation (NYSE:CBS) (CBS) and ABC, Inc. The entire sale price would be taxable because CNN is carried on Time Warner's books at near-zero, people familiar with the company said. Fox isn't considering spinning off CNN, according to people familiar with the matter. Fox would likely face tax consequences in a spin-off as well, a person familiar with the situation said. CNN would have difficulties as a standalone company because, unwound from a cable bundle, it would likely see its subscriber fees plummet, according to people familiar with the matter. Representatives from Time Warner and Fox declined to comment, Reuters reported.

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