Disney is in talks to sell its ABC network and local television stations. according to a report by Bloomberg. The entertainment giant has reportedly met with Nexstar Media Group, owner of dozens of local news stations, to discuss a sale.
Disney’s response to the report is to deny that it has reached a deal to sell ABC or any of its other linear properties. In a statement posted on its websiteThe company says it is “open to considering a variety of strategic options” but has not made an official decision and that “any reports to that effect are unfounded.”
Sources say Bloomberg that talks between Nexstar and Disney are still early and that a price has not yet been set. Another source tells the outlet that Disney is also considering selling ABC to Byron Allen, the CEO of Entertainment Studios, which owns several stations, including The Weather Channel.
Nexstar CEO Tom Carter expressed interest in acquiring Disney’s linear channels at an investor conference this week. indicating that I could add “Relatively low friction” ABC channels if available. In July, Disney CEO Bob Iger heavily hinted at selling some of the company’s linear networks, including ABC, National Geographic and FX, while making ESPN available as a standalone broadcast channel.