Lunr Token (LUNR) news

Lunr Token

DISNEY UPDATE📢: Byron Allen Bids $10 Billion for Disney's ABC and Cable Channels

Media mogul Byron Allen has proposed a $10 billion acquisition of Walt Disney Co.'s ABC television network, including the FX and National Geographic cable channels. This move comes after Disney CEO Bob Iger hinted in July at the possibility of selling some of the company's TV assets, given the increasing dominance of streaming services. Disney's streaming unit, which launched Disney+ in 2019, has reported losses exceeding $11 billion.

Allen's bid encompasses ABC's national TV network and several regional stations. The valuation is based on an estimated $1.25 billion in earnings before interest, taxes, depreciation, and amortization over the past year. Concurrently, Disney has engaged in preliminary discussions about selling ABC to regional TV station operator Nexstar Media, though no decisions have been finalized.

Byron Allen, founder and CEO of Allen Media Group, owns assets like the Weather Channel and several regional sports networks. Starting his career as a stand-up comedian, Allen transitioned into the media business in the early 1990s, establishing a media empire now estimated to be worth around $1 billion. Last year, he attempted to acquire the Denver Broncos, but was outbid.

Twitter

Massive update from our favorite reporter @tiktechtoe about the mouse house.