Walt Disney Co. has narrowed the field of candidates to buy its ABC radio stations to three, which should pave the way for a sale of the unit before the end of the year, the Financial Times reported.

The remaining bidders are Entercom Communications Corp., of Pennsylvania; Atlanta-based Cumulus Media Inc.; and private equity group Kohlberg Kravis Roberts & Co.

Analysts have said the 72 stations could be sold for between $2 billion and $3 billion, the paper said.

The Burbank-based entertainment giant decided to consider a sale after the appointment of Robert Iger as the new chief executive, which prompted a review of all the media group’s assets, Financial Times said.