Disney Considers Strategic Options Amidst Interest from Byron Allen and Nexstar
Disney has denied reports of talks with Nexstar Media Group regarding a potential sale of ABC and its eight local ABC stations. However, Byron Allen has made a formal offer of $10 billion for ABC, Disney's local TV stations, FX, and the National Geographic Channel. The offer, which is pegged at eight times EBITDA, raises questions about the strategic implications of removing FX and Nat Geo from Disney's control. Nexstar Media Group and Allen Media Group are among the interested suitors for Disney's linear TV assets, which CEO Bob Iger previously stated "may not be core" to the company.