Amazon is reportedly in talks with Disney to work on the streaming version of ESPN and potentially acquire a minority stake in the sports network.
Disney CEO Bob Iger's search for equity partners for ESPN could result in Amazon acquiring a minority stake in the network to aid in the development of a direct-to-consumer version, joining other potential partners such as the NFL, NBA, MLB, and Verizon.
Walt Disney has pulled its channels, including ABC stations and ESPN, from Charter Spectrum due to a distribution fee dispute, leaving nearly 15 million subscribers without access to popular programming such as "Jeopardy!" and "Wheel of Fortune."
Walt Disney CEO Bob Iger is considering options for the company's traditional broadcast and cable businesses, including the potential sale of ABC, as streaming services and declining viewership threaten the future of linear TV.
Byron Allen has submitted a $10 billion offer to Walt Disney Co. to acquire its ABC TV network, local stations, as well as the FX and National Geographic cable channels.
Disney's potential sale of ABC and its affiliated networks is not primarily motivated by financial gains, but rather serves as a signal to investors that Disney is ready to move away from traditional television and focus on its streaming businesses.
DirecTV and Nexstar Media Group have reached an agreement to restore the signals of dozens of stations after a two-and-a-half month dispute over distribution terms, affecting approximately 159 ABC, CBS, Fox, NBC, and CW affiliates as well as cable network NewsNation.