NEW: Disney shares a statement after rumors circulate the company wants to sell ABC

See what Disney had to say about the media rumors circulating that the company will sell ABC.

Rumors

Disney is reportedly considering getting out of the traditional television business. According to several national media outlets, the company quietly held talks with Nexstar Media in regards to selling ABC and its affiliates.

But, supposedly it’s not just Nexstar. A source said everyone is talking to Disney about the deal, and it’s way too early in the game for an agreement with anyone.

Disney’s ABC is comprised of a national television network with shows like “Dancing with the Stars” and “The Bachelorette”. It also has 8 regional stations and affiliation agreements with about 240 local TV stations across the country.

The possible agreement would give them a boost of capital, which will at least temporarily add cash to spend somewhere else. It also removes the stress of operating traditional television and streaming. Disney stock is up 1% today after seeing some of the lowest numbers in years.

In addition, the agreement would require a lot of federal approval as well as a cash/stock deal.

Statement

In response to these rumors, Disney just released a statement. BURBANK, Calif., September 14, 2023 – The Walt Disney Company (NYSE: DIS) issued the following statement in response to media reports regarding our linear businesses.

“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.”

The Walt Disney Company has made no decision with the respect to the divestiture of ABC or any other property and any report to that effect is unfounded.

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