American Broadcasting Company was sold.
American Broadcasting Company . Since 2007 , when ABC Radio ( also known as Cumulus Media Networks ) was sold to Citadel Broadcasting , ABC has reduced its broadcasting operations almost exclusively to television . In the 1980s , after purchasing an 80 % interest in cable sports channel ESPN , the network 's corporate parent , American Broadcasting Companies , Inc. , merged with Capital Cities Communications , owner of several print publications , and television and radio stations .