Disney is in talks to sell off its ABC network and local TV stations, according to a report from Bloomberg. The entertainment giant reportedly met with Nexstar Media Group, which owns dozens of local news stations, to discuss a sale.
Disney’s response to the report is a denial that it has reached a deal to sell off ABC or any of its other linear properties. In a statement published on its website, the company says it’s “open to considering a variety of strategic options,” but it hasn’t made an official decision and that “any report to that effect is unfounded.”
Sources tell Bloomberg that the talks between Nexstar and Disney are still early and that a price hasn’t yet been named. Another source tells the outlet that Disney is also considering selling ABC to Byron Allen, the CEO of Entertainment Studios, which owns several stations, such as The Weather Channel.
Nexstar CEO Tom Carter expressed interest in acquiring Disney’s linear channels at an investor conference this week, stating that it could add ABC channels “with relatively little friction” should they become available. In July, Disney CEO Bob Iger hinted heavily at selling off some of the company’s linear networks, which include ABC, National Geographic, and FX, while making ESPN available as a standalone streaming channel.
https://www.theverge.com/2023/9/14/23874313/disney-sell-abc-nexstar-local-media-group
