NXST - ABC Sale Unfavorable for Disney: Dilution and FCC Regulations at Play Analyst Says | Benzinga
Reportedly, Walt Disney Co (NYSE: DIS) has been in preliminary talks with Nexstar Media Group, Inc (NASDAQ: NXST) on potentially selling the ABC Network, which could be worth $4.0 billion or more.
In a statement, Disney says it is exploring strategic options and has yet to make a final decision.
In addition, reports suggest DIS will likely cut its target for Disney+ streaming subscribers from its previously provided range from 3Q22 of 215 million - 245 million.
KeyBanc analyst Brandon Nispel sees a potential sale of ABC as unfavorable for DIS, while the cut of subscriber targets is neutral.
A potential deal for ABC at $4.0 billion would likely be done on a highly ...