Despite the revival of the ABC network, Disney CEO Bob Iger says the company isn't aggressively looking to expand its small portfolio of TV stations.
ABC owns just 10 TV stations that cover 24% of all U.S. TV homes. NBC, CBS, and Fox, by contrast have much larger portfolios, including duoplies in many markets. ABC's small position means it's not enjoying the full benefits of the network's success, since stations are where networks really make most of their money.
The problem, Iger said during the company's earnings conference call Monday, is price. "They're all in great markets, some of them are in bigger markets than others and they are powerhouses in terms of ratings, performance.
"While I feel it would be nice to have more, we don't feel it is essential, and any time we've looked at potential acquisitions in that space we felt that the prices being paid were just a little too high...there doesn't seem to be a need to own or control more."