After an executive shakeup last month, Bloomberg founder Michael Bloomberg has announced plans for his media empire after he passes away.

In an appearance at a climate change summit hosted by The New York Times, Bloomberg revealed his media companies would be left to his foundation before being sold.

“I give virtually all of the company’s profits to the foundation, and the foundation gave away last year $1.7 billion,” said Bloomberg. “This year it will be a little bit more than that. But when I die, the foundation inherits the company. They — because of the tax laws — will have to get rid of it, sell it someplace or other over the first five years.”

He added “At 81 years old, common sense says I should have succession plans.”

In August, Vlad Kliatchko was named CEO of the company, with several other changes taking place on the Board of Directors. At the time, Bloomberg noted that he was likely to be interrogated about a potential succession plan.

“I’m sure these changes raise questions about me, so let me put them to rest: I’m not going anywhere,” the billionaire told employees in a memo at the time. “I’ve never used a title in the company, so I won’t change what I’ll be called – just ‘Mike.'”

On Thursday, Ingrid Ciprian-Matthews, the recently appointed president of CBS News, revealed several changes to the editorial leadership.

Terri Stewart is now the senior vice president of domestic newsgathering at CBS News. Furthermore, Stewart will oversee the domestic bureaus and manage bookings. Kaci Sokoloff will support her in this role.

Shuffling doesn’t stop there. London bureau chief Andrew Roy now oversees all CBS News international bureaus. Jose Diaz, who leads the network’s foreign desk, will now report to Roy.

David Reiter’s team at CBS News will extend their role to cover significant reporting beats beyond Washington, D.C. They will work with CBS Stations and the Innovation Lab to find prospects for joint national and local news coverage and continue producing special events programming.

Additionally, Kate Zuckerman was promoted to VP of affiliate relations and special events planning. Beth Boyle was elevated to national and planning editor, overseeing editorial content and managing desk operations.

CBS is adding two political investigative producers, led by Matt Mosk, to its growing investigative team. The group will now be incorporated into the Washington D.C. Bureau and report straight to bureau chief Mark Lima.

Finally, Ciprian-Matthews notified staff that the network is hiring an Executive Producer of Daily News.

Last week, The Walt Disney Company found themselves in the news after a report surfaced noting that they could be looking to offload ABC. Bloomberg revealed that Nexstar Media Group had initial talks with Disney to acquire the television station.

Furthermore, media mogul Byron Allen has offered $10 billion to buy ABC. Still, despite the rumors of a possible sale, various insiders tell The New York Post that they don’t believe Disney will be offloading ABC.

Sources close to the situation told the Post that Nexstar isn’t in a good place to pay what Disney would probably demand for ABC.

“Everyone is way ahead of their skis on this story,” a banker told the Post. “They don’t know what is happening here. Disney taking a meeting doesn’t mean you’re ready to sell, it means you’re getting offers. This is something evolving over many weeks.”

Disney CEO Bob Iger announced in June that legacy television assets, such as ABC, may not be deemed core assets for the company going forward. Nevertheless, some cynics noticed it as Iger inviting a deep-pocketed bidder to come forward. Thus far, none have emerged.

“He told the world if someone wants to put a really big number on these assets he will sell,” a second banker told the Post. “I just don’t see a buyer.”