August 23, 2014 2:00 PM ET

Media

Company Overview of ABC, Inc.

Company Overview

ABC, Inc. develops, produces, and distributes entertainment content on television and online. The company offers WATCH ABC, a live stream service allows users to view its network live or on demand on various devices like smartphones, tablets, and computer. ABC, Inc. was formerly known as Capital Cities/ABC, Inc. and changed its name to ABC, Inc. in September 1996. The company was founded in 1946 and is based in New York, New York. ABC, Inc. operates as a subsidiary of The Walt Disney Company.

77 West 66th Street

Suite 100

New York, NY 10023-6298

United States

Founded in 1946

Phone:

212-456-7777

Fax:

212-456-2795

Key Executives for ABC, Inc.

President
President of Publishing Group and Senior Vice President
Age: 76
Senior Vice President and President of Cable & International Broadcast Group
Age: 85
Executive Vice President
Age: 87
Executive Vice President of Creative
Compensation as of Fiscal Year 2014.

ABC, Inc. Key Developments

Fox Is Reportedly Seen Selling CNN Rather Than Spinning Off

If Twenty-First Century Fox, Inc. (NasdaqGS:FOXA) succeeds in buying Time Warner Inc. (NYSE:TWX), it's likely to sell Cable News Network, Inc. (CNN) and pay billions of dollars in taxes rather than go through the headaches of spinning the cable news channel off to shareholders of the merged company, according to people familiar with the matter. Fox plans to get rid of CNN because it already operates its own namesake news network and would likely face opposition from regulators even if it wanted to keep it. Potential buyers include CBS Corporation (NYSE:CBS) (CBS) and ABC, Inc. The entire sale price would be taxable because CNN is carried on Time Warner's books at near-zero, people familiar with the company said. Fox isn't considering spinning off CNN, according to people familiar with the matter. Fox would likely face tax consequences in a spin-off as well, a person familiar with the situation said. CNN would have difficulties as a standalone company because, unwound from a cable bundle, it would likely see its subscriber fees plummet, according to people familiar with the matter. Representatives from Time Warner and Fox declined to comment, Reuters reported.

National Association of Broadcast Employees and Technicians-Communications Workers of America and ABC Inc. Reach Tentative Agreement on Four Year Deal

The National Association of Broadcast Employees and Technicians-Communications Workers of America and Walt Disney Co.'s ABC Inc. have reached a tentative agreement on a new, four-year contract to replace the one that expired March 31, 2011. The union said the tentative agreement contains ‘significant improvements’ to ABC's stated ‘last, best and final’ offer made in July 2012. The new contract, when ratified, will cover approximately 2,500 staff and daily hire employees at various company network and TV station operations in New York; Chicago; Los Angeles; San Francisco; and Washington, D.C. The contract includes ABC news and entertainment programs and ESPN sports broadcasts airing on ABC. Additionally, the new contract establishes NABET-CWA's jurisdiction for ABC-provided content for the newly launched Fusion cable news channel, a joint venture between ABC and Univision Communications Inc. The contract offer was also amended to add an additional year of security to the agreement, setting a new expiration date of March 31, 2017, as well as an additional wage increase. The new contract also requires early negotiations for the next master agreement, commencing by Oct. 1, 2016, with automatic involvement of federal mediators if a successor contract is not reached by March 1, 2017. The wage offer contains a total of 9% in wage increases over the next four years, effective March 30 if the contract is ratified by May 17.

NABET-CWA and American Broadcasting Companies Reach Tentative Agreement on Four-Year Deal

The National Association of Broadcast Employees and Technicians-Communications Workers of America and the American Broadcasting Companies have reached a tentative agreement on a new four-year contract to replace the one that expired March 31, 2011. NABET-CWA President James C. Joyce and the members of the five-city bargaining committee are unanimously recommending that the membership ratify the offer by May 17, 2013. NABET-CWA and ABC reached this settlement after a fifteen-hour mediation session on March 22, 2013 in Washington, D.C. The tentative agreement contains significant improvements to ABC's July 17, 2012 stated "last, best and final" offer. The new contract, when ratified, will cover approximately 2500 staff and daily hire employees working as broadcast technicians, telecommunications specialists, news writers, producers, desk assistants, publicists, and plant maintenance personnel at various company Network and TV station operations in New York, Chicago, Los Angeles, San Francisco and Washington D.C. The contract includes ABC news and entertainment programs and ESPN sports broadcasts airing on ABC. Enhancements from ABC's last offer were obtained in the areas of economics, jurisdiction, and retirement benefits for staff and daily hire employees. The contract offer was also improved to add an additional year of security to the agreement, setting a new expiration date of March 31, 2017, as well as an additional wage increase. The new contract also requires early negotiations for the next Master Agreement, commencing by October 1, 2016, with automatic involvement of Federal Mediators if a successor contract is not reached by March 1, 2017. The wage offer contains a total of 9% in wage increases over the next four years (2.5%, 2.0%, 2.0%, and 2.5%) effective March 30, 2013, if the contract is ratified by May 17, 2013.

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