It is actually the other way around: The Walt Disney Company owns several major TV stations and networks, rather than being owned by one. Disney is the parent company of the ABC (American Broadcasting Company) television network, which includes eight major "Owned-and-Operated" local stations in cities like New York (WABC), Los Angeles (KABC), and Chicago (WLS). Additionally, Disney owns a majority stake (80%) in ESPN, as well as the Disney Channel, FX, National Geographic, and the Freeform network. In early 2026, Disney has further integrated these stations into its streaming ecosystem, allowing Disney+ and Hulu subscribers to access live local ABC news feeds. The company operates as a massive "Media and Entertainment" conglomerate, making it one of the largest owners of television content and distribution platforms in the world, alongside competitors like NBCUniversal and Warner Bros. Discovery.