Disney Is Entertaining a Bid for the Purchase of ABC; ABC "News" Staffers Are Freaking Out

This is the first time anyone wrote "Disney is Entertaining" in about six years.

Learn to code, bitches.

Allen Media Group owner Byron Allen has made a $10 billion offer to Walt Disney to buy the ABC TV network, local stations, as well as the ancillary FX and National Geographic cable channels, a host of reports detailed Friday.

Byron Allen?

He's got that kind of scratch?

Jeeze.

The bid, confirmed by Allen's representative to CBS MoneyWatch, would include the entertainment giant's ABC's national TV network as well as several regional stations.

The offer is "preliminary" and "could change" at any time, a source with knowledge of the matter told Bloomberg.

CNN reports a half-dozen people inside and around ABC News contacted by the outlet on Thursday evening made clear a feeling of dread and trepidation is engulfing staffers as they face the prospect of being sold.

CNN reports a half-dozen people inside and around ABC News contacted by the outlet on Thursday evening made clear a feeling of dread and trepidation is engulfing staffers as they face the prospect of being sold.

"Everyone is freaking the f**k out," one ABC News staffer bluntly told CNN about the state of affairs inside the network.

"It's all anyone at work is talking about," added another.

The regional cable company Nexstar is also considering buying ABC.

As you probably know from me mentioning it every week, Disney is forced to buy out Comcast's stake in Hulu, which will cost them at least $10 billion, and probably as much as $30 billion. Disney has been losing money hand-over-fist -- losing $11 billion just on its streaming service so far -- and has seen its stock value cut in half from its 2020 highs.

So they will have trouble financing the buyout. They will either have to give Comcast an absolutely huge block of reduced-value shares, or sell a huge amount of corporate debt. It's probably best for them just to sell off parts of Disney to raise the money.

WDW Pro reports that Disney is reorganizing its ads sales to focus on sports (ESPN). Which suggests the sale of ABC is imminent.

Gary from Nerdrotic just claimed that the new Disney "Star Wars" show Ahsoka has ratings that are within thousandths of a point of the ratings for Secret Invasion -- which was Disney's second-worst performing show, after Ms. Marvel.

posted by Disinformation Expert Ace at 04:30 PM

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