Bloomberg: Disney In Discussions To Sell ABC Network

Bloomberg News reports:

Walt Disney Co. has held exploratory talks about selling its ABC network and TV stations to local broadcaster Nexstar Media Group Inc., according to people familiar with the discussions. The talks are preliminary and haven’t involved a specific valuation. Disney, in a statement, said that while it’s still considering a variety of strategic options for its traditional TV businesses, the company has made “no decision with respect to the divestiture of ABC or any other property.”

Axios reports:

Media mogul Byron Allen reportedly has offered $10 billion to Disney for an asset package of which ABC would be the crown jewel. Disney may have saved the cable bundle earlier this week via its last-minute deal with Charter Communications, but it seems intent on unbundling itself from linear television. A local broadcaster like Nexstar or Sinclair is the most likely play for Disney, but the divestitures are going to be wild.