Disney is said to be working on selling its stake in a cable network that has been a joint venture of Disney’s ABC News and Univision. According to The Hollywood Reporter, Disney plans to sell its stake in Fusion to Univision.
The companies launched Fusion in October 2013.
“Disney now plans to sell its stake, with Univision as a likely buyer, according to a person familiar with the matter but unauthorized to speak on the subject,” THR reports. “The deal could still fall through and other bidders could emerge, but the source says that Disney’s plan to sell its stake has become an open secret in the Fusion offices over the last six months.”
The report adds: “Fusion was created as a home for news, lifestyle, pop culture and entertainment content for millennials, with a focus specifically on English-speaking Latinos. Disney handled distribution and sales for the fledgling network in 2013, and the source says Univision has been more closely aligned on the content side of the business, especially as Fusion has placed a focus on being a digital-first news operation.”