NXST - Disney In Early Talks Over Possible ABC Sale To Nexstar | Benzinga
Early stage talks have reportedly commenced between entertainment conglomerate The Walt Disney Co. (NYSE:DIS) and local TV giant Nexstar Media Group Inc. (NASDAQ:NXST). The discussions center on the potential sale of Disney’s ABC network and its associated TV stations.
What Happened: According to insiders, exploratory discussions between the two companies have begun, as reported by Bloomberg. No specific valuation has been put on the table yet, and Nexstar’s participation hinges on the right price.
The news prompted Nexstar shares to rise by 5.9%, marking the fourth consecutive session of gains. Disney shares also reacted positively, posting a 1.2% increase.
During a Bank of America conference, ...