Disney Says No Decision On Divestitures; Confirms Seeking Options For Linear Businesses

RTTNews | 429 days ago

(RTTNews) - The Walt Disney Co. (DIS) announced Friday that it "has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded."

However, it added that it is open to "considering a variety of strategic options for our linear businesses."

Disney said it was responding to media reports regarding its linear businesses.

On Thursday, Disney initiated discussions about potentially selling its ABC network and associated TV stations. Local broadcaster Nexstar Media Group Inc. has expressed interest in acquiring the assets provided the price aligns with their strategic goals.

Tom Carter, former President of Nexstar and now an advisor, had indicated at a recent conference addressing investors that Nexstar could potentially acquire ABC with minimal divestitures required to meet broadcast station ownership limits.

Media mogul Byron Allen, known for his TV outlet ownership, has also engaged in discussions with Disney regarding a potential acquisition of these assets.

These discussions take place against the backdrop of Disney's strategic shift, prompted by changing consumer preferences. CEO Bob Iger had previously mentioned considering divestments of traditional TV networks due to declining viewership in favor of streaming services.

The future of ABC and its affiliated stations remains uncertain, with significant implications for all parties involved. There are complications from the fact that ESPN, Disney's sports network, shares many telecasts with ABC, posing questions about their future integration into the acquirer's assets.

Tags: DIS

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