Disney issues a statement amid reports that it is in talks to sell ABC and its linear businesses

Sep 14, 2023 in "The Walt Disney Company"

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Walt Disney Company headquarters in Burbank, California

Posted: Thursday September 14, 2023 5:15pm ET by WDWMAGIC Staff

Bloomberg reported earlier today that the Walt Disney Co. has held exploratory talks about selling its ABC network and TV stations to local broadcaster Nexstar Media Group Inc.

Disney has issued a statement late this afternoon saying, “While we are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has made no decision with respect to the divestiture of ABC or any other property and any report to that effect is unfounded.”

Disney CEO Bob Iger put the entertainment world on notice during an interview at the Sun Valley conference, where he said that the company is open to a number of options regarding its linear businesses, including ABC and ESPN.

Walt Disney Company headquarters in Burbank, California

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SirwalterraleighJan 24, 2025

Say it 1000 times…it’s not gonna be true Doubling prices in 10 years is not “inflation” And not only that…that government sanctioned (frankly) excuse from the plague is starting to collapse…as products are increasingly rejected Get your popcorn and watch it play

SirwalterraleighJan 24, 2025

That would involve reading books…or Wikipedia at a minimum… It’s a lot to ask 🤪

JD80Jan 24, 2025

Price increase recently have been basically on par with inflation.

AylaJan 24, 2025

And prices continue to rise at a ridiculous rate...

DranthJan 24, 2025

What amazes me it that this has been repeated throughout history over and over and over and yet we never seem to learn that eventually people break when things get this far out of whack.

SirwalterraleighJan 24, 2025

I don’t…it’s 100% about growing economic strife…for decades Even when it’s not “about that”…it ultimately gets back to it. Anger 101

DranthJan 24, 2025

It is gross how much CEO pay has shot up since 1980 when it really took off. Think I remember reading an article that pegged it at something like 1800% increase over that time. Can't recall if that was adjusted for inflation or not but either way it is a pretty massive increase. Obviously, it depends on the position but if you compare CEOs to their lowest paid, full-time hourly positions instead of the average it gets a lot uglier. If Iger got 41.1 million in 2024 then he is making roughly 1,170 times his base level employees. Generously, let's say a CEO puts in 80-hour work weeks, that means for 2024 he was making around $160 a minute. That is close to what an hourly employee will make in a full day if not more. Just for fun (the depressing kind), if Elon's 4.49 billion a year package from Tesla holds up, he will be getting around 128,200 times the lowest paid full-time positions. There aren't enough hours in the week for him to put in 80 at Tesla given all his other positions he has but let’s say he did. That would mean he was making $18,000 a minute or $300.00 a second. In that case, he is making around twice as much per second as his lowest level employees do in a day. And folks wonder why everyone is angry all the time.

SirwalterraleighJan 24, 2025

…shovels at the ready The line starts right behind Willow 😱 Remember: only HE can save us all 🤫

JoeCamelJan 24, 2025

One stat I saw was he makes 746 times what the average TWDC employee makes edit: but even if he worked for nothing it wouldn't move the needle on company earnings

GhostHost1000Jan 24, 2025

Bob’s salary increased 30% meanwhile we have a cost cutting thread

JoeCamelJan 24, 2025

I really think Bob needs a well paid geriatric pool boy...... https://blogmickey.com/2025/01/bob-igers-pay-2024/

DCBakerJan 23, 2025

Details for the 2025 Annual Meeting of Shareholders:

MisterPenguinJan 02, 2025

https://www.hollywoodreporter.com/business/business-news/hollywood-stocks-review-2024-netflix-walt-disney-warner-bros-discovery-1236087500/ https://variety.com/2024/biz/news/media-stocks-2024-netflix-disney-warner-bros-discovery-1236262140/ https://www.hollywoodreporter.com/business/business-news/2025-entertainment-stock-picks-disney-netflix-spotify-take-two-1236087572/

BrianLoDec 04, 2024

Not at all. Comcast wanted Fox and Disney wanted Sky. They both lost something, but Roberts only got the stinker and Dis was bid up unnecessarily. The only one who truly came out on top was Murdoch. Unless I’m misunderstanding you and you think Comcast didn’t want Fox?