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Disney Reportedly In Talks To Sell TV Assets For $10 Billion

Multiple media reports say Walt Disney (DIS) is in talks to sell its television assets that include the ABC network and National Geographic specialty channel for as much as $10 billion U.S.

While Disney insists that no decisions have been made, several media outlets are reporting that entrepreneur Byron Allen has made a $10 billion U.S. offer for the company’s TV unit, which also includes the FX cable channel.

There are also reports that Disney has held talks about selling its TV operations to regional U.S. television station operator Nexstar Media (NXST).

Rumors of an impending sale come after Disney chief executive officer (CEO) Bob Iger said recently that the company could sell some of its traditional TV assets, which have been losing ground to streaming services.

ABC is one of the big four national TV networks in the U.S. along with NBC, CBS, and Fox. It has affiliation agreements with 240 local television stations reaching almost all U.S. households.

Disney bought ABC for $19 billion U.S. back in 1995.

Nexstar currently has 200 TV stations in 116 markets, reaching about two-thirds of the U.S. population, as well as specialty TV channels such as the CW and NewsNation.

There are also rumors that Disney is looking to sell its specialty sports network ESPN, which some analysts say good fetch more than $50 billion U.S. through a sale.

No announcements on ESPN have been made by Disney either.

The stock of Walt Disney Co. has declined 24% over the last year and currently trades at $84.48 U.S. per share, about the same level it was at nearly a decade ago.