The Walt Disney Company has reportedly had exploratory discussions regarding the potential sale of their television network ABC, according to Reuters.
- The reported discussions were between Disney and regional TV station operator Nexstar Media Group Inc.
- Back in July, Disney CEO Bob Iger said the company may be willing to part with some of its linear television businesses, including ABC as well as cable assets.
- Reuters also reports Nexstar’s “interest is preliminary and may not lead to any deal.”
- The Walt Disney Company released the following statement regarding the reported discussions:
- “While we are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded.”
- ABC is comprised of a national television network and eight regional stations, as well as affiliation agreements with about 240 local television stations reaching almost all U.S. television households.
- Nexstar currently has 200 owned or partner stations in 116 markets reaching over two-thirds of the U.S. population, in addition to national TV networks such as CW and NewsNation.
- With this news, Disney shares closed up 1.2%, while Nexstar stock rose 5.7%.