Walt Disney has held preliminary talks on the sale of its ABC community to U.S. native TV station proprietor Nexstar Media, Bloomberg News reported on Thursday, citing sources.
Shares of the media big rose 1%, whereas Nexstar inventory jumped almost 6%.
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Disney CEO Bob Iger mentioned in July that the corporate may promote a few of its conventional TV property which have struggled for years as a result of rise of streaming providers.
Nexstar and Disney didn’t instantly reply to Reuters requests for remark.
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Source: economictimes.indiatimes.com