Walt Disney Co. has entered discussions about the potential sale of ABC to local broadcaster Nexstar, with media mogul Byron Allen making an offer of $10 billion to Disney for a package of assets, of which ABC is a significant component.
The significance of these developments lies in Disney’s apparent intent to distance itself from traditional linear television, despite having recently struck a deal with Charter Communications, which helped preserve the cable bundle.
Disney responded to these reports by asserting that no final decisions have been made but acknowledging its willingness to explore various strategic options.
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