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Disney opens to study divestments, but denies having decided to sell its ABC network

The American leisure and entertainment giant The Walt Disney Company has shown itself willing to study divestments in its linear businesses, although it has denied that it has made any decision regarding the sale of its ABC television network.

The company has issued a statement to respond to information collected in some media that it is in talks to sell ABC and other television networks it owns.

According to the Bloomberg agency, which cites sources close to these negotiations, Disney is exploring the sale of ABC and other television media to the local broadcaster Nexstar Media Group, which would only be interested in the operation if the price is appropriate.

“While we are open to considering a variety of strategic options for our linear businesses, at this time The Walt Disney Company has not made any decisions regarding the divestment of ABC or any other properties,” the US company said in a statement.

The American leisure and entertainment group obtained attributable net losses of 460 million dollars (417.5 million euros) in the third quarter of its fiscal year, compared to profits of 1,409 million dollars (1,278.7 million euros ) registered in the same period of the previous year.

The multinational decided to undertake a workforce adjustment since the beginning of the year that will affect around 7,000 employees, which represents 3.6% of its workforce, with the aim of improving its profit margins.

Nexstar is the largest local broadcasting group in the United States, with 200 owned or affiliated stations in 116 US markets, reaching 212 million people.

The Nasdaq-listed company owns, among others, national networks such as The CW, NewsNation, Antenna TV and Rewind TV, while owning a 31.3% stake in TV Food Network.

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