Disney might sell off ABC Radio
Reports coming in from the market claims that the entertainment giants Disney are looking towards selling off ABC Radio. Sources have claimed that there are two potential contenders in the bidding process. These are Kohlberg Kravis Roberts & Co. and Entercom Communications Corp.
There are more players in the market who showed interest for taking over ABC Radio. These included Citadel Broadcasting Corp., Emmis Communications Corp., and Cumulus Media Inc. However, Emmis has already pulled out and Disney has found the offer from Cumulus too low to consider.
This means that Citadel is still in the running. However, the serious competition is likely to take place between Kohlberg Kravis Roberts and Entercom. None of the involved companies has issued any statement on these rumors floating in the market on the potential sale of ABC Radio by Disney.
Disney are already tipped to be talking with Pixar on an acquisition deal and the board of directors at Disney are tipped to meet together to discuss these potential deals soon.