The Walt Disney Company (DIS) had been in talks with Nexstar Media Group for a potential sale of ABC including its eight local stations, according to several outlets. The entertainment giant hit back on these “unfounded” reports. A Nexstar senior advisor had said that on Wednesday the media group would be able to buy ABC and its TV stations with “little friction.”
The statement issued by the Walt Disney Company on September 14, 2023 from Burbank, California reads as follows: “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.”
On Thursday, several major outlets had reported that sources had told them that Disney was in talks with companies such as Nexstar and the Allen Media Group. Bloomberg was among the first to report that sources had informed them about a potential upcoming deal.
Earlier on Wednesday, Tom Carter, a former Nexstar executive and a current advisor to the CEO of Nexstar had said that the media company was able to buy Disney stations with “little friction.” He was addressing a crowd at the BofA Securities Media, Communications and Entertainment Conference. He also hinted that there was a potential chance for the acquisition and said it depended “on how things fall out.”
After all these speculative reports gained traction, Disney released a statement on its current position on its affiliates including ABC.
Earlier in summer, Bob Iger CEO of Disney mentioned that its linear assets “may not be core” to the Entertainment behemoth. He passed the comment during an interview with CNBC at the annual conference of Allen & Co in Sun Valley, Idaho.
The linear assets of Disney include ABC, Disney’s eight local television stations, FX and also National Geographic Channel.
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