Disney asset sales won't break the bank, but they will move legacy media forward
Publishing timestamp: 2023-09-17 11:31:18
Summary
The article discusses Disney's consideration of selling some of its legacy media businesses, such as ABC and its owned local affiliates, as a way to signal to investors that it is moving away from traditional TV and focusing on streaming. The sale of these assets could help Disney lower its leverage ratio and fund its acquisition of Comcast's minority stake in Hulu. However, selling ABC could have negative consequences for ESPN's ability to land future sports rights deals. The article also suggests that if Disney successfully sells ABC, it could serve as a catalyst for other large legacy media companies to sell their declining assets.
Sentiment: MIXED
Tickers: CMCSA, NXST, WBD, PARA, DIS,
Keywords: breaking news: business, nexstar media group inc, technology, business news, comcast corp, warner bros discovery inc, paramount global, media, walt disney co,
Source: https://www.cnbc.com/2023/09/17/disney-asset-sales-will-move-media-industry-forward.html