ABC NEARS SALE OF RADIO NETWORK, STATIONS; FINAL BIDS DUE THIS WEEK
DISNEYABC CEO Robert Iger is prepared to sign off on the sale of the network's ABC radio network and ABC radio stations, top sources tell the DRUDGE REPORT.
Negotiations between DISNEY and three major suitors have intensified in recent weeks; contenders were asked by bankers representing ABC to meet via phone to discuss their final questions.
Final bids are due this week, a top source says, with DISNEY then having a 15 day window to accept an offer.
A sale of ABC RADIO, with the network's sensational constellation of 60+ stations, including WABC in New York, the nation's top-rated talkstation; WLS in Chicago; KGO and KSFO in San Francisco; WBAP in Dallas; influential WMAL in DC; WJR in Detroit, and others, is expected to rock and roil the radio industry.
EMMIS, ENTERCOM and CUMULUS MEDIA each have their hat in the bidding, sources say.