Report: Disney Considering Radio Spinoff
Tuesday July 12, 12:43 pm ET
Disney Considering Multistep Transaction That Would Result in Radio Spinoff, Report Says
NEW YORK (AP) -- The Walt Disney Co. is considering a multistep transaction that would result in a spin-off of its radio stations and radio network group, The Wall Street Journal reported Tuesday.
Disney has long been believed to be considering an exit of the radio business ever since it acquired the stations and network in its 1996 purchase of Capital Cities/ABC, which also brought Disney the ABC and ESPN television networks.
Disney may still hold onto the radio group, which consists of 71 stations and a separate radio network. But with Robert Iger in line to take over from longtime CEO Michael Eisner in October, Disney could be in a position to make new plans for its role in radio.