Following The Failed BET Buyout, Byron Allen Is Aiming To Purchase Walt Disney Co. For $10B
Byron Allen is looking to land another big media fish.
The TV mogul has reportedly placed a $10 billion bid to take over ownership of Walt Disney Co., and gain control over some of the networks under its banner, including ABC TV, FX, the National Geographic channels, and other broadcast channels in local markets.
Per Bloomberg, the $10 billion price is the networks’ $1.25 billion in earnings before interest, taxes, depreciation and amortization within the past year, the CBS News reported.
Earlier this year the media mogul made headlines as he vied to purchase Black Entertainment Television (BET) alongside other bidders that included Tyler Perry and Sean “Diddy” Combs. The sale fell through after the network’s owner, Paramount Global, chose not to sell the majority stake of the network.
Read in Essence