|
Disney may sell ABC units
|
 |
January 29, 1997: 9:57 a.m. ET
Reports says company could sell publishing operations for $2 billion
|
NEW YORK (CNNfn) -- The Walt Disney Co. reportedly wants to sell off the publishing operations it acquired last year through the $19 billion takeover of Capital Cities/ABC Inc.
Published reports in The Wall Street Journal and Daily Variety Wednesday said Disney has little interest in holding onto such eclectic businesses as the Fort Worth Star-Telegram, Women's Wear Daily, Institutional Investor and Kentucky Prairie Farmer.
Any sale is not expected to include Disney's Hyperion book division.
Unlike the broadcasting operations -- which have an obvious fit with Disney's movies, theme parks and resorts -- analysts said the publishing operations have little synergy with the rest of the entertainment and media giant's holdings. Company officials said they can better serve shareholders by selling the units either to pay down debt or make investments in other businesses.
Analysts said a deal for the publishing operation could fetch as much as $2 billion. Potential suitors include K-III Communications, Gannett, Hearst and Reed Elsevier.
|
|
|
|
|
|
Walt Disney Co.
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
