Disney Talks on ABC Sale Heat Up as Byron Allen Makes Offer
- Disney said it hasn’t made any decisions on sale of properties
- Nexstar has also held early talks for ABC and local stations
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Walt Disney Co. has now fielded at least one offer for its ABC TV network, local stations and some cable channels, and more may come as the company seeks to shed what it considers non-core assets and focus on streaming.
Media mogul Byron Allen offered $10 billion, albeit tentatively, for Disney’s flagship broadcast network as well as the FX and National Geographic cable channels, according to a person familiar with his proposal. Separately, Disney has held exploratory talks about ABC and its eight local TV stations with Nexstar Media Group Inc., people familiar with those discussions said. All of the people asked not to be named disclosing information that’s not public.