abc close to deal on us assets, page-18

I take my hat off to anyone who can get a great deal in this siuation - doesn't make sense to me, but ABC never has.

I read that article as implying that they will get $465m now plus $30m later, maybe, for 60% of the business.

If that's 14 times earnings how could anyone else value it at 20 plus times earnings? And why would anybody pay 14 times earnings to a company in so much trouble?