NEW YORK — ABC News has been a digital news company since 2006, but the news network is now owned by Disney.
The move is the latest twist in a long-running saga in which Disney owns about 90% of the content that ABC News broadcasts.
Disney’s stake is the largest owned by a single company in cable news, and it makes Disney the second-largest investor in TV stations.
It also makes Disney an increasingly important shareholder for other news outlets.
“Disney’s stake in ABC News means ABC News will be an independent news organization and the first to be fully independent of Disney,” said a Disney spokeswoman.
ABC News’ ownership structure is not yet clear.
In 2006, Disney bought ABC’s broadcast rights to newspapers, which included News Corp.’s News of the World tabloid, for $2.4 billion.
Disney then bought News Corp. papers in 2009 for $9 billion.
The deal made News Corp., which is owned by News Corp, the largest news publisher in the world.
News Corp owns The New York Times, the Washington Post, the Los Angeles Times and more than 100 other publications.
Disney and News Corp share a common parent company, 21st Century Fox, but they each own different portions of the companies’ businesses.
Disney owns 21st century Fox News Network.
News Corporation owns Fox News Channel and Fox News Digital.
The news organizations are separate businesses, and they do not compete with each other.
“The news organizations will continue to be operated separately and not compete for viewers and advertisers,” ABC News said in a statement.
Disney CEO Bob Iger, who is also chairman and CEO of News Corp.-owned NBCUniversal, said in an interview that he would not be involved in any decisions on ABC News, but that “the editorial content of the networks’ platforms will remain the same as before.”
ABC News was founded in 1997 as a unit of News Corporation.
It has been the only U.S. news network to be part of a parent company since the 1970s.
Disney bought News of New York in 2004 for $1.8 billion, and then bought a 51% stake in 2007 for $8.4 million.
It then bought the entire News Corp-owned New York News Corporation for $24.5 billion.
It bought News Corporation-owned Fox News in 2011 for $32.5 million, and bought a 49% stake for $36.5 in 2014.
ABC news also has been owned by the Walt Disney Co., a media company that owns ABC News and Disney.
ABC’s digital content, which is hosted on the news sites, is delivered through ABC News app, the online version of the news site.
ABC has been criticized for its slow and inconsistent delivery of its news content to its subscribers, which are mostly older adults.
ABC was founded by Walt Disney, who was the chief executive of News of The World tabloid from 1976 until his death in 2011.
The newspaper has been at the center of a decades-long sexual harassment scandal that has rocked the news business and prompted the resignation of its publisher, Jann Wenner.
Disney, a media empire, has made News Corporation one of its largest shareholders.
Disney said in its statement that the company is “very pleased that ABC will continue as a wholly owned subsidiary of ABC News.”
ABC’s sister news networks also will remain independent, including MSNBC and CNBC.
CNN has been privately owned by CNN since it was acquired by Disney in 2005.
ABC and CNN have a joint editorial content division, ABC News Anchor Anderson Cooper, who has anchored CNN for decades, will continue anchoring the network’s news programs.
ABC also has its own cable news channel, ABC World News, which airs on CNN and CNBC, and its own digital news service, ABC Digital News.
ABC does not own CNN, but CNN and Fox have stakes in ABC, which they also control.