Good day all. I’ve covered Disney’s antics off and on going back almost 10 years for a number of topics. This includes Disney firing a number of American workers and replacing them with H1B’s. Of late it’s been Disney’s going Full Woke and how they look to be on the way down to failure and potential bankruptcy.
A lot of information I get on Disney is coming from several Podcasts on YouTube. I follow Legal Mindset, WDW Pro and Valliant Renegade who generally cover the legal, general and financial sides of Disney. I’ve also been reading general news from assorted sites. Basically, Disney is in trouble. Most of the major “Blockbuster” films turned out to be very expensive duds and attendance at the parks, Disneyland in Kalifornistan and Disneyworld in Florida is down significantly.
Basically, Disney appears to be running out of money. What’s worse, for Disney, is that they have to buy Comcast’s share in Hulu, and it looks like that’s going to cost Disney between $10 billion and $30 billion dollars. From what I’ve been reading and hearing, Disney doesn’t have the money on hand to buy out Comcast. Now it looks like Disney may be looking to sell assets and the first one on the block may be ABC. Here are the details from Breitbart:
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.
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.
By “It could change” probably means that Allen’s people take a hard look at the books and other data and either drop their offer or withdraw it completely. However, it looks like this might just actually happen. Why? There are signs of sheer terror from the moonbats inside ABC.
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.
I’ve been involved in companies that have been “Acquired” as well as doing the acquiring. The first time, this was to a company I was working for, it was a complete surprise to everyone inside. Looking back, since my job at the time included going into “Mahogany Row” to provide support to the C level management, it was obvious that something major was happening. Things didn’t end well for the average employee in that company.
As to Byron Allen, I don’t know anything about him. Honestly, the first time I heard of him was in regards to this story that ABC was on the auction block. He might come in and start cleaning house. If so, the question may be, what happens to the News division. ABC has been, of late, a wholly owned subsidiary of the Democrat National Committee. Allen may decide that this needs to change, hence the blind terror of the ABC employees.
Disney has also held exploratory discussions about selling ABC to regional TV station operator Nexstar Media, two people familiar with the matter told Reuters.
I suspect that Nexstar probably won’t make an offer on ABC. There would be some serious regulatory challenges for them. Looking at Byron Allen’s company, I don’t think they would have as many hurdles to jump over.
Disney CEO Bob Iger signaled in July that Disney was open to selling some of its television assets as consumers continue to flock to streaming networks, dropping traditional television and cable as they go.
This is true. I’ve been reducing my services on Dish and going to streaming since it’s actually saving me money. I’m not someone who watches shows on my phone or a tablet. I prefer my 60” TV’s. One of the streaming services I’m no longer subscribed to is Disney+. I decided to ditch them when it came out they were raising the fee for the second time in a year. They’re also producing what amounts to be flat out crap these days. This is another major problem for Disney.
The company’s streaming unit has lost more than $11 billion since it debuted Disney+ in 2019, and during the most recent quarter alone it reported $512 million in losses, according to an August earnings report.
Add to this the recent fight between Disney and Charter Communications, one that Disney lost. (Charter got everything they wanted) You also have the problem with Disney’s stock price. It’s fallen over 100 points since February, 2021, which is about when Bob Chapek was fired and Bob Iger came back as CEO. Iger is the one who has been driving a lot of the WOKE idiocy that Disney has saddled itself with.
Obviously, there is a whole lot going on, but this is why Disney may be looking to sell off ABC and probably other assets. They gone Woke and are now going broke. If/when ABC is sold off, it’s going to suck for some ABC employees. They might actually be forced to report honestly on President Trump.
Thatisall
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