Two weeks ago it was reported that media mogul Byron Allen submitted a $10 billion bid to purchase ABC [click here if you missed that].
Now Byron admits Disney is not quite ready to sell...
From Deadline
Media entrepreneur Byron Allen, one of many parties interested in acquiring ABC and other linear TV assets from Disney, said he has “access to plenty of capital,” and Disney’s internal deliberations are the main factor preventing a formal sale process from starting.
“Capital’s not an issue,” he said of securing financial backing for his $10 billion bid. “I have access to plenty of capital. … There’s trillions of dollars out there looking for a safe place to invest and get it back with a return.”
Allen provided the update during a sit-down at the Code Conference with CNBC correspondent Julia Boorstin. When she asked Allen if he had a specific plan for how the bid would be financed, he replied, “Oh, absolutely,” without going into any details.
Inside Disney, however, there are also complications, Allen noted. CEO Bob Iger, despite his public observations last summer that linear TV “may not be core” to the company, “is not ready” yet to enter a formal process, according to Allen. Former Disney vets Kevin Mayer and Tom Staggs, who now run Candle Media, were also name-checked by Allen as the key advisors helping Iger sort out all options. Linear TV, of course, is not the only challenge in front of the company, which is also navigating Hulu buy-out talks with Comcast and charting the streaming future of ESPN.
13 comments:
Quite, not Quit
He can have ABC for all I care, but please don't let Allen get his hands on HULU. I don't think Comcast is a good fit for HULU, but I think they'd be better than Allen. Allen would dilute the Black content on HULU.
Bryon's programming experience sucks and I hope someone else gets the chance to make the purchase. Bryon just wants clout and power.
👁️
Didn’t they ruin Bill Cosby for trying to buy ABC?
No Bryon. The J’s will not sell to blacks, no matter the price.
Disney owns two-thirds of Hulu, while Comcast owns the rest. They ain’t going to let him buy Hulu either. 🚫
They will never sell a major network to a Black Man
They will not sell to a black man. Giving a black man full control of television programming is too much power to put in the hands of a black man. Even one who is already on the inside.
Think about what television programming really is. Programming how people think and what they believe. In the hands of a black man, what would that programming entail and how would it effect whites? Based on how blacks program their own (entertainment over education), why would white people what to expose themselves to that?
These major white corporations are not about to sell to a black man point blank period!!! Just start your own!!!!
Byron Allen is no better than Tyler Perry when it comes to content.
11:10 Comcast is not keeping Hulu, period. Disney will either roll it into D+ or after Disney takes control, do a quick hot potato to a Tech company like Google. That's my insider guess.
For everyone else — y'all realize already owns like dozens of ABC affiliate stations? He’s already in the family.
Build your case Byron. We watching either way
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