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Listen: Disney Explores Selling ABC
Disney Explores Selling ABC: Nexstar and Byron Allen Offer Potential Deals
Disney is reportedly in talks to sell ABC to local broadcaster Nexstar, while Byron Allen has offered a tempting $10 billion package for Disney’s assets, with ABC being the prized possession.
Why it’s important: Disney’s recent deal with Charter Communications may have saved the cable bundle, but Disney is eager to break away from traditional linear television.
Official statement: Disney has responded to the rumors, stating that no decisions have been made, but they are open to exploring various strategic options.
What to expect: It is likely that Disney will turn to a local broadcaster like Nexstar or Sinclair, but the divestitures are sure to shake up the industry. It’s hard to envision Nexstar owning ABC and numerous other networks’ affiliates.