Disney In Early Talks Over Possible ABC Sale To Nexstar
Portfolio Pulse from Piero Cingari
The Walt Disney Co. (NYSE:DIS) and Nexstar Media Group Inc. (NASDAQ:NXST) are reportedly in early talks regarding the potential sale of Disney’s ABC network and its associated TV stations. No specific valuation has been discussed yet. The news led to a 5.9% increase in Nexstar shares and a 1.2% increase in Disney shares. The potential sale indicates a significant shift in Disney’s focus towards its rapidly expanding digital platforms like Disney+ and Hulu.
September 14, 2023 | 8:12 pm
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POSITIVE IMPACT
Disney is in early talks with Nexstar about the potential sale of its ABC network. This news led to a 1.2% increase in Disney shares.
The potential sale of ABC to Nexstar indicates a shift in Disney's focus towards its digital platforms, which could be seen as a positive move by investors, leading to the increase in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nexstar is in early talks with Disney about the potential purchase of the ABC network. This news led to a 5.9% increase in Nexstar shares.
The potential acquisition of ABC from Disney could significantly expand Nexstar's portfolio, which could be seen as a positive move by investors, leading to the increase in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80