Byron Allen On His $10B Offer For ABC And Other Disney Networks: “Capital’s Not An Issue”, But Bob Iger “Is Not Ready” Yet To Pursue Linear Sale
deadline.comMedia 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 next hurdle to be cleared. “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.
Earlier this month, word emerged that local TV giant Nexstar Media Group had held talks with Disney about ABC and the company’s eight owned local stations.
Allen Media Group, whose holdings include The Weather Channel, local stations and a film and TV production operation is also interested in buying FX and National Geographic Channel.
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