Disney in Early Talks to Sell ABC Network
Disney is reportedly considering the sale of its ABC network and local TV stations, engaging in preliminary discussions with potential buyers including Nexstar Media Group.
- Disney denies finalizing any deal to sell ABC or other linear properties.
- Nexstar and Byron Allen, CEO of Entertainment Studios, emerge as potential buyers.
- Early stage discussions with no fixed price for the sale.
According to a report from Bloomberg, Disney is in the early stages of talks to sell its ABC network and local TV stations. While the entertainment behemoth has denied reaching a deal to sell off ABC or any of its other linear properties, it has expressed openness to considering various strategic options. The company emphasized that it has not made an official decision and labeled any report claiming otherwise as ‘unfounded’.
The discussions involve potential buyers such as Nexstar Media Group, which owns a considerable number of local news stations, and Byron Allen, the CEO of Entertainment Studios, which has several stations under its umbrella including The Weather Channel. Nexstar CEO Tom Carter expressed interest in acquiring Disney’s linear channels at an investor conference, noting the possibility of adding ABC channels “with relatively little friction” should they become available. The talks are still in the nascent stage with no price being named yet.
Disney CEO Bob Iger had previously hinted at selling some of the company’s linear networks, which encompass ABC, National Geographic, and FX, while contemplating making ESPN available as a standalone streaming channel. This move aligns with the changing landscape of the entertainment industry, where streaming services are gaining prominence over traditional TV networks.
| Quick Facts | Details |
|---|---|
| Potential Buyers | Nexstar Media Group, Byron Allen (CEO of Entertainment Studios) |
| Current Stage of Talks | Early, no price named |
| Disney’s Statement | Open to considering strategic options, no official decision made |
| Disney’s Linear Networks | ABC, National Geographic, FX |
| Disney CEO | Bob Iger |
The potential sale of ABC network and local TV stations by Disney marks a significant moment in the evolving entertainment industry landscape. As companies adapt to the rising trend of streaming services, the future of traditional TV networks hangs in the balance. This development could potentially reshape the media landscape, introducing new dynamics in content delivery and consumption. It remains a space to watch as discussions progress and decisions are made in the coming months.
Source: The Verge