Disney holds discussions with Nexstar on sale of ABC: report
The Walt Disney Company has held initial talks with Nexstar Media Group on a potential sale of ABC, according to a new report.
The talks are in the preliminary stage and have not focused on a potential sale price, Bloomberg reported Thursday. The outlet cited people familiar with the negotiations, who said Nexstar would only be interested in acquiring ABC at "the right price."
Bloomberg separately noted comments made by Tom Carter, a top adviser to Nexstar CEO Perry Sook and the company's board, during an investors conference this week in which Carter said Disney needs to be clearer on what a potential sale of ABC would look like.
“We can take direction, but we’re not necessarily out there leaning into any of this stuff without a clear path," Carter said.
Disney also owns sports media giant ESPN, with many of its live sports telecasts simulcast on ABC.
The news comes amid widespread speculation across the media business and on Wall Street that Disney could soon sell ABC and its other television properties.
That buzz has been intensified, in part, by comments from CEO Bob Iger earlier this summer suggesting Disney's television properties "might not be core" to its overall business.
Nexstar Media Group is one of the nation's largest providers of local news, with stations in dozens of markets across the country.
The broadcaster has raised its profile among national media companies in recent years with an acquisition of a majority stake in The CW network and the launch of cable news channel NewsNation. Nexstar also purchased The Hill in fall 2021.
Disney and Nexstar did not immediately respond to a request for comment.