Disney (DIS) comments on selling radio assets (quotes from conf call)

|
 |  Includes: CCU-OLD, DIS, VIA
by: David Strahlberg

Recently, Viacom (ticker: VIAB) and Clear Channel Communications (ticker: CCU) have announced plans to spin off their radio assets. During yesterday's conference call with investors, The Walt Disney Company (ticker: DIS) addressed whether DIS would consider selling its radio assets. Here is a quote from the call:

Question: …a New York publication today suggested that you were in the midst of trying to sell your radio business. Could you comment on whether you are a buyer or seller of such assets?

Answer: … as you know we've been in the radio business for a long time and it's been a good business for us, delivering significantly in terms of free cash flow. And it's also extremely well managed under John Hare and a very, very seasoned team of radio management. As we've said about a number of our assets, we are always open to looking at possibilities of either buying or selling assets. All with an eye towards improving our shareholder value. And so we are continuing that process. We are not going to comment specifically, though, as to whether we are looking to buy or sell radio properties at this point. Except to say that we maintain an ongoing process again of analyzing all of our businesses.

(Quotes from the CCBN StreetEvents transcript.)