GlobalMedia-ABC News in talks with Bloomberg
The news divisions at the big networks have been in a world of hurt lately as advertisers seek out younger consumers and viewers. This has lead to big cutbacks in staffing and resources over the years as the networks strive to keep profit margins from deteroirating even further.
ABC is certainly no expectation and has experienced managment upheaval when ABC News president David Westin announced in September his departure partly due to the financial situation and the pressure to increase profit margins.
Speculation has persisted that ABC News parent company, Walt Disney, has been seeking to untie itself from the division– rumors that similary dog CBS.
Anne Sweeney, president of Disney/ABC Television Group, flatly denied that the company was looking to offload the news or TV divisions but also confirmed that ABC News has been in talks with Bloomberg in forming a partnership. “We’ve had a lot of conversatoins with Bloomberg over the past couple of years,” she said during Reuters Media Global Summit.
Sweeney also said they are currently searching for Westin’s replacement though she was coy on when and who that might be. “We certainly have a lot of talent in ABC,” she said.