Media Mogul Byron Allen Bids $10B For The Walt Disney Company

It’s Not Mickey Mouse Money…Yet. Media Mogul Byron Allen Bids $10B For The Walt Disney Company

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Billionaire media mogul Byron Allen has launched a $10 billion bid to take over The Walt Disney Company, home to ABC, FX and many local channels. The $10 billion figure is based on an estimation that the networks accrued $1.25 billion in earnings before interest, taxes, depreciation and amortization within the past year, the publication reported.

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The $10 billion figure is based on an estimation that the networks accrued $1.25 billion in earnings before interest, taxes, depreciation and amortization within the past year, the publication reported.The offer is “preliminary” and “could change” at any time, an inside source said.Byron Allen is the founder and CEO of Allen Media Group, a global media production and distribution company that owns the Weather Channel, along with several regional sports networks and broadcast TV stations. He came to prominence as a comedian in the late 1970’s with appearances on ‘The Tonight Show’ and as a host/correspondent on the NBC show ‘Real People’.

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