Alarm bells are ringing at ABC News.
On Thursday, a report revealed that Disney might be considering selling ABC, stirring up significant anxiety within the newsroom. Bloomberg’s Christopher Palmeri and Thomas Buckley reported that Disney has had “exploratory talks” with Nexstar Media Group about a potential sale. Media mogul Byron Allen has also reportedly discussed a possible deal with Disney.
CNN spoke with multiple sources at ABC News who expressed mounting concern over the uncertainty. “Everyone is freaking out,” one staffer said, capturing the widespread anxiety. “It’s all anyone is talking about at work,” another added.
The prospect of a sale naturally raises concerns about the impact of new ownership. Staffers are wary about potential changes, such as new leadership, cost-cutting measures, or shifts in editorial direction. With Nexstar already owning NewsNation, a channel known for its balanced approach and recent controversial town hall with Robert F. Kennedy Jr., there’s speculation about how a merger could affect ABC News’s future and editorial stance.
ABC News staff are particularly frustrated by the lack of direct communication from Disney about their future. Instead of hearing updates from Disney leadership, they’re learning about potential changes through the media.
CNN has been informed that Disney CEO Bob Iger is expected to visit ABC News in New York City next week, although he may be limited in what he can disclose about the outlet’s future.
The possibility of a deal with Nexstar, the largest owner of TV stations in the U.S. and a majority owner of The CW network, could involve regulatory hurdles and might affect ESPN and Disney’s sports broadcasts.
Nexstar declined to comment, and Bloomberg described the discussions as “preliminary.” Disney has also downplayed the notion that a deal is imminent, but reaffirmed its openness to considering various strategic options for its linear businesses.
As one TV executive noted, “ABC News was once the crown jewel of Iger’s empire, showcased with high-profile anchors and lavish events. Now, they’re on the chopping block.” The executive added, “Iger is pragmatic and will prioritize what’s best for Disney, even if it means selling off major assets or cutting ties with high-profile anchors.”