Published October 18, 2013
Walt Disney (DIS) is not looking to sell its local ABC television stations, sources told FOX Business.
Shares were trading 1.1% higher at $67.14 Friday afternoon. In a report published Thursday night, the New York Post said Disney was searching for an investment bank to explore a possible sale.
The Burbank, Calif.-based media conglomerate was said to be considering a sale of the broadcast stations back in 2010, when it sold two smaller market stations in Flint, Mich., and Toledo, Ohio.
Disney’s eight owned and operated ABC stations are in large markets like New York and Los Angeles, reaching about 23% of U.S. television households.
In August, the company reported a slight increase in its third-quarter earnings. Broadcast revenue was roughly flat year-over-year at $1.5 billion, while total revenue rose 4% to $11.58 billion.
Fox Business reporter Dennis Kneale contributed to this report