musicradio77
08-11-2005, 05:06 PM
From Billboard Monitor:
Disney To Keep Nets In Possible ABC Radio Sale
Disney's senior EVP/CFO Thomas Staggs made it clear during this afternoon's earnings conference call (Aug. 9) that if there is a sale of any ABC Radio properties, it would comprise the owned and operated stations and not any of the company’s networks.
"ABC Radio is a premiere set of assets," Staggs said, "and the group is run by an exceptionally capable management team." The CFO acknowledged that Disney is "in the process of evaluating" a possible sale or "combination" but stressed that "we do not anticipate that ESPN or [the ABC] radio networks would be part of such a deal."
During the Q&A session, Disney president/COO Bob Iger reiterated that shareholder value is his primary objective in considering a possible ABC Radio sale, suggesting that “if there is an opportunity to increase value to our shareholders” then a sale would be likely: “You can’t be emotional about these assets,” he said, “whether you’ve been working with them for 30 years or 30 days.”
Disney To Keep Nets In Possible ABC Radio Sale
Disney's senior EVP/CFO Thomas Staggs made it clear during this afternoon's earnings conference call (Aug. 9) that if there is a sale of any ABC Radio properties, it would comprise the owned and operated stations and not any of the company’s networks.
"ABC Radio is a premiere set of assets," Staggs said, "and the group is run by an exceptionally capable management team." The CFO acknowledged that Disney is "in the process of evaluating" a possible sale or "combination" but stressed that "we do not anticipate that ESPN or [the ABC] radio networks would be part of such a deal."
During the Q&A session, Disney president/COO Bob Iger reiterated that shareholder value is his primary objective in considering a possible ABC Radio sale, suggesting that “if there is an opportunity to increase value to our shareholders” then a sale would be likely: “You can’t be emotional about these assets,” he said, “whether you’ve been working with them for 30 years or 30 days.”