5 big deal reports: Nexstar-Disney talks for ABC march on; CCC sale on the table
By Davit Kirakosyan
Here is your Pro Recap of 5 head-turning deal dispatches you may have missed in the past week: Nexstar is in talks to acquire ABC from Disney , CCC Intelligent Solutions is looking into selling itself; CrownRock is exploring a $10 billion sale, and deals at T-Mobile/Comcast, Navios Maritime/N Shipmanagement Acquisition, and PFSweb/GXO Logistics.
InvestingPro subscribers got this news first. Never miss another market-moving headline.
Walt Disney (NYSE:DIS) is in initial talks about the potential sale of its ABC network and TV stations to Nexstar Media Group (NASDAQ:NXST), according to Bloomberg News, which cited people familiar with the matter.
According to the report, these discussions are in their early stages and have not yet delved into specific valuation details. Nexstar has shown interest but is awaiting the right offer. Following this report, Disney stated that no decision has been made on selling ABC and that they are open to exploring various options, as mentioned in Bloomberg.
Disney shares rose nearly 5% last week, while Nexstar surged more than 13%.
According to a report that emerged late last week, car insurance software maker CCC Intelligent Solutions — 56% owned by private equity firm Advent International — is working with Morgan Stanley to look into talks with potential buyers.
Reuters attributed its report to unnamed sources, saying Advent declined to comment and that neither CCC nor Morgan Stanley immediately responded to requests for comment.
CCC jumped on the news in after-hours trading Friday, and were recently rising 2% to $11.75 in Monday's premarket.
According to Reuters, CrownRock LP is preparing for a potential sale that could value the company at well over $10B, including
Read more on investing.com
