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# Disney Explores Selling U.S. TV Network ABC to Nexstar Media Group

A logo for ABC is pictured atop a building in Burbank, California February 5, 2014. REUTERS/Mario Anzuoni/File Photo

## Acquire Licensing Rights

#### Introduction

Walt Disney Co (DIS.N) has reportedly entered into exploratory discussions regarding the potential sale of its U.S. TV network ABC to regional TV station operator Nexstar Media Group Inc (NXST.O), according to sources familiar with the matter. This move comes after Disney CEO Bob Iger expressed a willingness in July to sell some of the company’s traditional TV assets, which have been facing challenges due to the growing popularity of streaming services.

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#### Nexstar’s Interest and Confidentiality

The interest expressed by Nexstar in acquiring ABC is still in its preliminary stages, and there is no guarantee that a deal will materialize, as indicated by one of the sources. Both sources have requested anonymity due to the confidential nature of the discussions.

#### Disney’s Stance on the Matter

While acknowledging that it is open to considering strategic options for its linear business, Disney has not yet made a final decision on the divestiture of ABC or any other asset. A Disney spokesperson emphasized the company’s intention to evaluate different possibilities before reaching a conclusion.

#### Nexstar’s Response

Nexstar has not yet responded to requests for comment regarding the potential acquisition of ABC.

#### Market Reaction

Following the report, Disney shares closed up 1.2%, while Nexstar’s stock experienced a 5.7% increase.

#### Background on Disney’s ABC

Disney’s ABC consists of a national television network and eight regional stations. Furthermore, it has affiliation agreements with approximately 240 local television stations, allowing it to reach nearly all U.S. television households.

#### Information about Nexstar Media Group

Nexstar owns or partners with 200 stations in 116 markets, encompassing over two-thirds of the U.S. population. Additionally, it operates national TV networks such as CW and NewsNation. Nexstar currently holds a market value of $5.25 billion.

#### Historical Context

In 1995, Former Disney CEO Michael Eisner agreed to acquire Capital Cities/ABC for $19 billion.

#### Reporting and Editing

Reporting by Dawn Chmielewski in Los Angeles, with additional reporting by Akash Sriram in Bengaluru. Editing by Josie Kao.

#### Trust Principles

“Our Standards: The Thomson Reuters Trust Principles.”

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