Drudge: ABC Radio Sale Near
November 10, 2005 at 10:29 AM (PT)
The DRUDGE REPORT is reporting that bids for the ABC RADIO stations and network are due this week and that DISNEY CEO BOB IGER is "prepared to sign off" on the deal. DRUDGE says DISNEY will have a 15 day window after the bids are in to accept an offer; EMMIS, ENTERCOM, and CUMULUS are among the suitors, and DRUDGE reports that one company is "approaching IGER's asking price."
The deal would take the form of a "reverse Morris trust" merger with the result being a company half-owned by DISNEY shareholders. RADIO DISNEY and ESPN RADIO are not included in the assets being sold.